Merry Christmas from the RBA?

Economists are already forecasting another rate rise which would take the cash interest rate up to 6.25%. Trouble in the Middle East and forced inflation from rising petrol prices are providing more reasons for the Reserve Bank to raise interest rates again before Christmas. At the moment the major drivers are most likely to force inflation up and it is already riding at 4% which is out of the 2 to 3% target range.