RBA set to hike rates amid stubborn inflation

The Reserve Bank of Australia is expected to raise interest rates to 4.1% this afternoon, with 73% of economists predicting the hike. Inflation remains outside the RBA's target range at 3.8%, and unemployment continues to be very low. The increase would add approximately $100 per month to an average $650,000 mortgage, bringing rates close to the 2024 peak levels.

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