US inflation rate over five per cent

The prospect of higher interest rates sooner rather than later is now real, with annual inflation in the United States again above five per cent even though the Australian Reserve Bank says rates will not move until 2024.

Sky News Business Editor Ross Greenwood says the RBA’s stance may move after the United States’ figures were released, leading the Federal Reserve in the US to consider if quantitative easing and other changes must be made.

The Federal Reserve is also considering raising interest rates like New Zealand after inflation rose 0.1 per cent last month for an annual rise of 5.4 per cent.

Economists in the US believe the Federal Reserve will have to move and raise interest rates after quantitative easing is ceased.

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