Interest rates could rise again ‘should inflation prove more persistent than expected’, RBA suggests

Minutes from the Reserve Bank of Australia's meeting show the board weighed up the option of lifting rates earlier this month but determined there had not been sufficient new information'

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The prospect of another official interest rate increase will hinge on upcoming data on jobs and prices, with the Reserve Bank declaring it had a low tolerance" should inflation not slow at the pace it has previously expected.

Minutes from the RBA's 3 October meeting, released on Tuesday, show the board weighed up the option of lifting the official cash rate by 25 basis points to 4.35% before leaving the rate at 4.1% for a fourth straight month.