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AAP
AAP
Business
Jacob Shteyman

Collateral damage: war threatens to blow up inflation

Inflation RBA JP Morgan Joel Carrett Oil Reserve Bank
Inflation will push higher the longer the Mideast war continues, RBA boss Michele Bullock warns. (Dan Himbrechts/AAP PHOTOS)

The Reserve Bank of Australia has hiked interest rates for the second straight month, warning of more pain the longer the war in the Middle East drags on.

In a split five-four decision on Tuesday - the tightest since the central bank started publishing vote tallies - the RBA's monetary policy board lifted the cash rate by 25 basis points to 4.1 per cent.

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