Is a 14th rate rise the solution to Australia’s inflation problem?

This week on The Fin, economics correspondent Michael Read explains why inflation has proved stickier than expected and raised the stakes for the Reserve Banks's big policy gamble.
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Investors say there is now a one-in-three chance of an August interest rate rise after inflation accelerated to its highest rate in six months and economists warned price pressures remained too strong.
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The Reserve Bank of Australia will not be swayed by interest rate cuts in Canada and Europe, says deputy governor Andrew Hauser, as he warns that high inflation is having “toxic” effects on households and preventing businesses from expanding.
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Treasurer Jim Chalmers could be forced to shelve his signature plan to create a specialist interest rate-setting board at the Reserve Bank of Australia after a breakdown in talks with the Coalition.
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