Fourth Australian interest rate rise more likely if Trump’s Iran conflict not resolved within a week
Escalating US-Iran tensions and a new maritime blockade have caused oil prices to surge, threatening to trigger a fourth interest rate hike in Australia. Economists warn that if the conflict persists, global oil prices could reach $100 per barrel within days.
As the US renews strikes on Iran and announces a maritime blockade, oil has risen to its highest price since June’s peace deal, increasing the chance of another RBA interest rate rise. Photograph: AAP As the US renews strikes on Iran and announces a maritime blockade, oil has risen to its highest price since June’s peace deal, increasing the chance of another RBA interest rate rise. Photograph: AAP Interest rates Fourth Australian interest rate rise more likely if Trump’s Iran conflict not resolved within a week Economists warn continued airstrikes could push oil prices beyond US$100 a barrel, increasing chance of further RBA rate hike
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