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AAP
AAP
Business
Kaaren Morrissey

Inflation, growth, rates all hinge on end to conflict

Inflation RBA Joel Carrett Economy Reserve Bank of Australia
The economy is set to slow and consumer price inflation is heading up, according to RBA forecasts. (Nikki Short/AAP PHOTOS)

The crisis in the Middle East fanned the flames of already buoyant inflation in Australia and could lead to more interest rate pain if it isn't resolved, the central bank has warned.

The Reserve Bank of Australia released fresh quarterly economic forecasts on Tuesday, when it simultaneously raised its key cash rate by 25 percentage points to 4.35 per cent, as was widely expected.

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