According to CoinMeta, despite facing hawkish inflation risks, it seems inevitable that the Reserve Bank of Australia (RBA) will maintain a cash rate of 4.35%. Some believe that the wording "in the event of upside risks" mentioned in the RBA's statement indicates that the board has actually reduced its inclination to raise interest rates. The basic expectation is that the RBA will maintain this interest rate level until mid-next year, although there is still a possibility of further rate hikes, which mainly depends on developments in energy prices and the Middle East situation. Recent inflation and labor market data have also fallen short of the RBA's forecasts from May, suggesting that the current policy setting may be too tight.