Fears grow for fourth rate hike after higher than expected July inflation rate

ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hikeFears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected.Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics. Continue reading...