RBA warns of rate hikes as inflation persists

Reserve Bank of Australia Governor Michelle Bullock has issued warnings about potential interest rate hikes as inflation remains stubbornly above the RBA's target band at around 4% for the year to June. Economists expect the underlying trim mean inflation rate to edge up to approximately 3.8%, marking four years of inflation above the central bank's target. The persistent inflation is driven by demand growing faster than supply in the Australian economy, with global factors including oil prices and geopolitical tensions also contributing to the pressure.See omnystudio.com/listener for privacy information.