Interest rates tipped to hit 15-year high

The Reserve Bank of Australia is expected to announce its second consecutive interest rate hike of 0.25%, with another increase anticipated in May. Economists warn that mortgage rates could climb to their highest levels in 15 years as domestic inflation sits at 3.8% and rising oil prices add further pressure. The RBA faces the challenge of slowing an overheated economy to bring inflation back to its 2.5% target, while economists argue the government needs to focus on productivity reforms, tax reform and regulatory improvements.See omnystudio.com/listener for privacy information.