An interest rate rise could be on the cards in August after the Reserve Bank of Australia’s governor warned that inflation remains too high.

Despite signs that past rate hikes are working, RBA governor Michele Bullock has made clear a further increase is likely to be considered next month.

An interest rate rise could be on the cards in August after the Reserve Bank of Australia’s governor warned that inflation remains too high.

Surprisingly soft inflation figures suggest the Reserve Bank will not be lifting interest rates in coming months - and maybe not for the rest of the year.