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Australian mortgage-holders are set for another interest rate hike, following troubling global economic conditions that are putting central banks under pressure.
NAB said the central bank appeared concerned that more needs to be done about inflation, joining the push for a 0.5 percentage point cash rate increase in October.
Interbank futures are fully priced for a 0.25 percentage point increase in the RBA cash rate next month and imply a 50/50 chance of a 0.5 percentage point move.
Economic growth buoyed by booming energy exports and robust consumer spending has paved the way for the RBA to tighten policy further as it fights inflation.
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