Australians hit by soaring petrol prices now face expected blow of interest rate rise

Economists predict RBA board will hike cash rate to 4.1% next week as inflation climbs and energy costs surge Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Millions of Australians could be hit with the twin blow of soaring petrol prices and higher mortgage repayments amid rising expectations that the US-Israel war on Iran will force the Reserve Bank to hike rates on Tuesday. Economists at three investment banks have shif...

By Patrick Commins Economics editor