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AAP
AAP
Politics
Poppy Johnston

RBA's inflation forecasts edge higher as risks abound

Fitch Australia Inflation the Reserve Bank
The RBA hiked rates after deciding the risk of inflation remaining higher for longer had increased. (Steven Saphore/AAP PHOTOS)

Inflation is proving more persistent than hoped, though it's not yet clear if more interest rate hikes are needed to bring it to heel.

The Reserve Bank has released an updated set of economic predictions in its quarterly Statement on Monetary Policy (SOMP), as well as further insights into its decision to lift interest rates on Melbourne Cup day.

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