Fourth Australian interest rate rise more likely if Trump’s Iran conflict not resolved within a week

AI Summary

Rising tensions between the US and Iran have led to higher oil prices, lifting them to monthly highs and increasing the likelihood of a fourth Australian interest rate hike this year. Economists warn that unresolved conflict may push oil above $100 per barrel, impacting markets globally.

Economists warn continued conflict could push oil prices beyond US$100 a barrel, increasing chance of further RBA rate hike Resurgent oil and fuel prices could cement a fourth interest rate rise this year if Donald Trump’s renewed conflict with Iran is not resolved within a week, economists warn. US missile strikes on Iran and Trump’s announcement overnight of a new maritime blockade has lifted oil prices to their highest point in the month since the two countries agreed to a peace deal. Continue reading...