Why the RBA is predicted to deliver a third straight interest rate hike this week

The Reserve Bank of Australia (RBA) is predicted to deliver a third consecutive interest rate hike this week, with financial markets giving it an 80% chance. The move aims to combat inflation, though it cannot address rising oil prices caused by Middle East turmoil. An economist has dubbed the hike the 'Hormuz hike,' linking it to geopolitical tensions affecting energy markets.