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Middle East war complicates RBA's inflation fight

Original: Danger zone: why war in the Middle East has landed the RBA’s inflation fight in tricky territory

Australia's central bank faces a fresh challenge to its battle against inflation as war in the Middle East sends shockwaves through global energy and financial markets. The Reserve Bank's task of returning inflation to target is now complicated by risks it cannot control, with higher oil prices threatening to push up costs just as domestic pressures ease.

Why now: Escalating conflict in the Middle East has raised fears of renewed oil price and inflation pressures worldwide, putting central bank policy back in focus.

Reserve Bank of AustraliaMiddle East

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Evidence

• Danger zone: why war in the Middle East has landed the RBA’s inflation fight in tricky territory · The Guardian

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