Australian interest rates face fourth rise as oil prices soar to $85
Economists warned that a fourth Australian interest rate rise is more likely if Donald Trump's renewed conflict with Iran remains unresolved within a week. Brent crude oil prices surged to US$85 a barrel, increasing inflation concerns. Markets now estimate a 50% chance of a rate hike by December as consumers' confidence dips amid rising fuel costs.
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Summary by OZbrief Editorial · The Guardian Australia · Source
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Published 14 Jul 2026, 04:24 UTC · Updated 14 Jul 2026, 04:40 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia. Editorial policy · Corrections
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