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The Guardian - AU
The Guardian - AU
World
Luca Ittimani

Fourth Australian interest rate rise more likely if Trump’s Iran conflict not resolved within a week

A person walks past the Reserve Bank in Sydney
As the US renews strikes on Iran and announces a maritime blockade, oil has risen to its highest price since June’s peace deal, increasing the chance of another RBA interest rate rise. Photograph: AAP

Resurgent oil and fuel prices could cement a fourth interest rate rise this year if Donald Trump’s renewed conflict with Iran is not resolved within a week, economists warn.

US missile strikes on Iran and Trump’s announcement overnight of a new maritime blockade has lifted oil prices to their highest point in the month since the two countries agreed to a peace deal.

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