It’s expected mortgage holders in Australia will be hit with another interest rate rise when the Reserve Bank of Australia meets tomorrow.

It’s widely tipped the official cash rate will rise 50 basis points, to 1.85 per cent.

It will be the fourth rate rise in four months.

Chief economist at the Centre for Independent Studies, Peter Tulip, agrees with that prediction.

“That’s the fairly common expectation within the markets and amongst commentators,” he told Neil Breen on Brisbane Live.

He said in his view, they should rise 75 basis points with the “very worrying” inflation outlook.

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