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๐—ฅ๐—ถ๐˜€๐—ถ๐—ป๐—ด ๐—ฃ๐—ฒ๐˜๐—ฟ๐—ผ๐—น ๐—ฃ๐—ฟ๐—ถ๐—ฐ๐—ฒ๐˜€ ๐—Ÿ๐—ฒ๐—ฎ๐—ฑ ๐˜๐—ผ ๐—›๐—ถ๐—ด๐—ต๐—ฒ๐—ฟ ๐—œ๐—ป๐—ณ๐—น๐—ฎ๐˜๐—ถ๐—ผ๐—ป

In disappointing news, inflation rose from 4.9% to 5.2% in August, after previously falling for three consecutive months.

At first glance, that seems to make it more likely the Reserve Bank of Australia (RBA) will increase the cash rate at its next monetary policy meeting, on Tuesday, because the reason the RBA has been pushing up interest rates has been to reduce inflation to its target range of 2-3%.

However, economist Stephen Koukoulas said the Reserve Bank wonโ€™t be moved by the rise in inflation, because it was caused by higher petrol prices, which are very volatile.

โ€œAs any sensible person knows, you don't adjust interest rates, you don't look at necessarily the price effects from petrol prices, because just as quickly as they can go up, they can go down,โ€ he said.

โ€œIt's still very clear that inflation is well under control; it's on track to hit the RBA's target certainly by this time next year, maybe by a bit earlier.โ€

Subiaco finance brokers are here to help

Interest rate rises are here, but you donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.

Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.

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