Chia notes the RBA sees inflation returning to the midpoint of its 2–3% target only by late 2027. While the base case is for no further hikes, the risk is skewed to another increase in Q4 if demand and energy prices remain problematic. The RBA reiterated that price pressures remain too high for comfort amid longstanding capacity pressures and an additional inflation impulse from higher fuel prices." "Our base case remains no more RBA rate hikes in the foreseeable future. "Ultimately, we think easing labour-market conditions, if sustained, should help contain underlying wage and price pressures in the economy."