The Reserve Bank board is considering further interest rate hikes and is awaiting the quarterly inflation data and employment figures to paint a better picture of the economy. The board is concerned about inflation levels and the tight labour market. While board members are considering further tightening, they are also reluctant to hike rates too much, as they are willing to tolerate slightly higher inflation levels than other countries. Recent employment data has been strong, but economists from Deloitte Access Economics have revised down their expectations for economic growth due to the last two rate hikes dampening Australia’s growth outlook.