EconomyFourth Australian rate rise more likely if Trump-Iran conflict lasts beyond a week

Economists warn that a prolonged conflict involving Donald Trump and Iran could drive oil prices above US$100 a barrel. Renewed increases in oil and fuel costs may make a fourth Australian interest rate rise this year more likely. US missile strikes on Iran and Trump’s overnight announcement of a new maritime blockade have pushed oil prices to their highest level in a month since the two countries reached a peace deal. If the conflict is not settled within a week, pressure for another Reserve Bank of Australia hike will grow.

Australian interest ratesoil pricesDonald TrumpIran conflict

TThe Guardian★★★★☆2026-07-14 04:24Original