The Reserve Bank of Australia has kept the OCR on hold for the fourth month in a row.

The decision to keep the cash rate at 4.1 percent is the first one made by the RBA's new governor, Michele Bullock.

However, Bullock warned that Australia isn't out of the woods yet when it comes to inflation, and warned of future hikes to come.

HSBC Chief Economist Paul Bloxham thinks the RBA could hike interest rates as soon as next month, depending on the next CPI outlook.

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