The Reserve Bank is widely expected to deliver its third-rate hike of the year when it hands down its decision this afternoon. A steep rise in inflation caused by the jump in fuel prices is being factored in by the RBA. The official cash rate is currently sitting at 4-point-1 percent with the market pricing in an 82 per cent chance of an increase today. Most economists including those from the "big four" banks predict it will go up by a quarter of a percentage point. That would take the cash rate to 4.35 per cent.
