Economist James McIntyre says the Reserve Bank of Australia is likely to raise its policy rate next week and has warned a further hike in November is possible as a surge in energy prices has clarified upside inflation risks. In a report titled 'RBA Insights: Energy shock returns RBA to a tightening path', McIntyre — who had earlier expected the RBA to remain on hold for the rest of 2026 — said repeated hawkish signals indicate the bank's limited patience is nearly exhausted. Further energy-price

Economist James McIntyre says the Reserve Bank of Australia is likely to raise its policy rate next week and has warned a further hike in November is possible as a surge in energy prices has clarified upside inflation risks. In a report titled 'RBA Insights: Energy shock returns RBA to a tightening path', McIntyre — who had earlier expected the RBA to remain on hold for the rest of 2026 — said repeated hawkish signals indicate the bank's limited patience is nearly exhausted. Further energy-price increases could prompt firms to pass higher input costs on to consumers.