RBA warns of more interest rate hikes

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SYDNEY, Feb 11 (AFP): Australia's central bank warned today that inflationary pressures mean interest rates may have to be raised again after being hiked last week to a 12 year high.
The Reserve Bank of Australia (RBA) said in its quarterly monetary policy statement that there was a considerable risk of inflation remaining uncomfortably high for some time.
"Therefore, monetary policy is likely to need to be tighter in the period ahead," the RBA said.
The bank aims to keep inflation within a 2.0-3.0 per cent range but in the fourth quarter of 2007 the annual underlying core inflation rates were around 3.5 per cent.