Australia's central bank set to weigh if rate hikes are enough to curb inflation

SYDNEY: Australia's central bank will debate whether four rate hikes this year will prove sufficient to return inflation to target at next week's policy meeting, the bank's governor said on Wednesday.

Michele Bullock, the governor of the Reserve Bank of Australia told lawmakers oil and related prices had increased sharply again and would add materially to inflation.

"A key question is whether the tightening in monetary policy to date will be sufficient to bring inflation back to target in a reasonable time," Bullock added.