A hotter-than-expected inflation result and surprisingly strong household spending have changed the outlook for interest rates, with another RBA hike now looking increasingly likely.

Michael Thompson is joined by economist Stephen Koukoulas for the Week Ahead, looking at what this week's GDP figures will tell us about the strength of the economy, and why Stephen has changed his call on rates.

They also look at building approvals and the balance of payments, and ask why the RBA has scheduled its crucial September rates decision just one day before the next inflation figures are released.

Join our free daily newsletter here.