Fears grow for fourth rate hike after Australia sees higher-than-expected July inflation

Bureau of Statistics says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hikeFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected.Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics. Continue reading...