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AAP
AAP
Business
Jacob Shteyman

RBA's stagflation nightmare: prices up, confidence down

RBA Andrew Hauser United States Reserve Bank Inflation Interest Rates Matthew Hassan
The economic effects of the US war in the Middle East could trigger the RBA to keep lifting rates. (Lukas Coch, Ruth Barbato/AAP PHOTOS)

The Reserve Bank board will have to earn its money to navigate Australia through a "nightmare" stagflation shock, a top central bank official says as confidence tanks and prices soar.

The RBA was still "feeling its way" through the energy crisis and what it meant for inflation, deputy governor Andrew Hauser told a New York University financial event on Tuesday morning, AEST.

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