<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian mortgage holders are being told to brace for an interest rate rise, with the Reserve Bank of Australia (RBA) looking to keep on top of rising inflation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That could mean a triple whammy for Aussies already hurting – at the bowser, at the checkout and on the mortgage.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The rising cost of oil worldwide is having a big impact on the price of petrol in Australia, which in turn is fuelling inflation.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>YOUR SAY:</span></strong><span> </span><a href="https://www.9news.com.au/finance/sydney-reacts-to-iminent-rba-interest-rate-hike/8bb17c15-3a98-42ba-8ce0-9b9f58ba515d"><strong><span>'We're already cutting back': Anxiety ahead of today's interest rate hike</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It caused the RBA to raise rates last month, and the experts are predicting a similar story this afternoon.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/finance/interest-rates-reserve-bank-anz-cash-rate-prediction/f9dc2991-73c4-4483-982f-a29e70df4d8d" rel="" target="" title="Economists all expect Australia's cash rate will go from 3.85"><span>Economists all expect Australia's cash rate will go from 3.85</span></a><span> per cent to 4.1 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>While the markets were slower to predict an interest rate rise, the ballooning price of oil and global instability caused by the war in the Middle East have made the outcome almost inevitable.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/finance/kohler-rates/4b49f096-8a79-4bad-9851-ba819fc8d5f7" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>After the February rise, the markets saw only a 10 per cent chance of a follow-up hike in March. Now, it sees about a 64 per cent chance.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Core inflation has sat at around 3.4 per cent annually, but rose out of the RBA's target range at the back end of last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The current geopolitical situation has only added fuel to the inflation and interest rates fire.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Inflation had already been running too hot, and a significant rise in oil prices will flow through to that data in fuel costs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Because the RBA is responsible for getting inflation under control, it's expected to act quickly.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>