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Australia faces rate hike and petrol above $2 a litre as oil tops $100
Economists are warning Australian households of a likely Reserve Bank interest rate hike and petrol prices topping $2 a litre in the coming weeks. The escalating Middle East crisis has pushed global crude oil back above $US100 a barrel. Financial markets now see a 50/50 chance the RBA will deliver a fourth cash rate increase at its 11 August meeting.
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