Institution: The Reserve Bank of Australia still leaves room for another rate hike in November.

Institutional analysis points out that the RBA raised rates today as expected for the fourth time this year, lifting the official cash rate from 4.35% to 4.60%. The RBA is clearly concerned that the unresolved Middle East conflict is exacerbating inflation risks, and the monetary policy committee stated that the related risks are gradually materializing. The RBA has not closed the door to another rate hike in November. If rates are raised again then, they will rise to the highest level since 2008. The market will closely watch the impact of rate hikes on the job market and property prices, as these two areas may be the first to feel the pressure from higher rates.