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“Reserve Bank deputy governor Andrew Hauser says the inflation outlook is "materially worse" than the RBA had forecast, raising the prospect of another interest rate hike as soon as November.”

“Last month, the central bank raised its benchmark interest rate by 25 basis points to a range of 3.75%-4.00%—its first hike in three years—and indicated further borrowing-cost increases in the coming months.”

“As the Iran war continued — and central banks worldwide began raising rates — members began favoring a hike, with three members wanting a quarter-point hike.”