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Economist delivers grim interest rate prediction on the back of another hike

The pain for homeowners still reeling from a third straight interest rate hike won't end here, an economist has warned. Tuesday's decision from the Reserve Bank of Australia to raise the cash rate by 25 basis points to 4.25 per cent was the third hike this year, all but erasing the cuts that Australia welcomed last year. Bendigo Bank head of economic research David Robertson blamed the Middle East conflict for another rate hike being all but inevitable, while warning it might even come faster than expected. [...]