Institution: If oil prices retreat slowly and tortuously, the RBA will further raise interest rates.

Golden Finance reported that on June 29, given the Reserve Bank of Australia's recent warning that official interest rates may still rise further, issues related to the Middle East conflict and oil prices remain crucial. Matthew Hassan, Head of Macroeconomic Forecasting at Westpac Australia, expects the normalization of oil and gas supply to be a "slow and bumpy process." He noted that concerns over persistently high domestic inflation will force the Reserve Bank of Australia to raise interest rates further in August. Hassan added that against the backdrop of already weak economic growth, this decision will be difficult for the committee.
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