Michael speaks with Terry McCrann, Business Commentator with The Australian, about where Australia’s inflation rate might be heading.

The official inflation rate out of the U.S.A. early yesterday was 8.5 percent with the U.K. currently at 7 percent.  While nowhere near this in Australia, our inflation rate is however rising.

‘The Reserve Bank will finally raise its official rate in June – the first rate hike it will have made since late-2010; and so, when the banks follow through with rate hikes on home loans, the first increase in repayments the vast majority of borrowers will have ever experienced on their current loans’, writes Mr McCrann.

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