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RBA warns rate rise likely

OUTGOING Reserve Bank governor Ian Macfarlane has warned that interest rates will most likely rise again before the end of the year. At his last appearance before the House of Representatives economics committee, Mr Macfarlane warned that, with underlying inflation at the top of the bank’s two to 3 per cent comfort range, another rise might be necessary. Mr Macfarlane also delivered a parting shot at the federal government, criticising its election promise of keeping interest rates low, describing the pledge as "not plausible".

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