US Interest Rate Hikes Could Worsen Inflation in Australia: Aussie Treasurer

Australian Treasurer Jim Chalmers gives his economic update at Parliament House in Canberra, Australia, on July 28, 2022. Martin Ollman/Getty Images

Australian Treasurer Jim Chalmers is concerned about a potential rise in the country’s inflation rate caused by the aggressive interest rate hikes in the United States.

Speaking to reporters before heading to Washington to attend the annual International Monetary Fund (IMF) meeting, the treasurer said the gap between the interest rates in the two countries could fan inflation in Australia.