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AAP
AAP
Politics
Jacob Shteyman

More rate hikes loom as inflation tops rich nation list

Inflation Interest Rates Reserve Bank Australia Economy NAB Oil RBA

Inflation is expected to stay above the Reserve Bank's target range until the end of 2027, with only six other developed countries having a higher rate than Australia's.

The extended period of high inflation has left the door open for more interest rate hikes.

Australia's inflation rate was projected to be among the highest of advanced economies around the world, the International Monetary Fund forecast in its latest World Economic Outlook on Tuesday.

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