Why the RBA is predicted to deliver a third straight interest rate hike this week (opens in new tab)

While interest rate rises can’t affect the surging price of oil caused by Middle East turmoil, they are still the Reserve Bank’s best – and only – tool to fight inflationFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOne economist is calling it the “Hormuz hike”.There’s a nearly 80% chance that the Reserve Bank will deliver a third straight interest rate rise on Tuesday, according to financial markets.Patrick Commins is Guardia...