Australian households face prospect of interest rate hike and petrol prices rising above $2 a litre

Economists’ warning comes as escalating Middle East crisis pushes global crude oil back above $US100 a barrel Get our breaking news email, free app or daily news podcast Australian households face the prospect of a Reserve Bank interest rate hike and petrol prices above $2 a litre over the coming weeks, economists warn, as the escalating Middle East crisis pushes global crude back above $US100 a barrel. Financial markets now see an even chance the RBA board will deliver a fourth cash rate i...

By Patrick Commins Economics editor