Energy price climbs heighten upside inflation risks; RBA expected to deliver fourth rate hike of the year next week.

According to Zhitong Finance APP, as rising energy prices further highlight upside inflation risks, economists say the Reserve Bank of Australia will raise its key interest rate next week and warn of a possible further hike in November. Money market pricing currently shows about a 90% probability that the RBA will raise the cash rate by 25 basis points to 4.6% next week. If the RBA raises rates as expected, this will be the central bank's fourth rate hike this year.