RBA Has Much to Consider Before Deciding on Another Interest Rates Rise: Deputy Governor

The Reserve Bank of Australia will study a range of data as the nation waits to see if another interest rates rise will arrive in August.

An Australian one dollar coin is displayed on May 16, 2012 in Melbourne, Australia. Scott Barbour/Getty Images

The Reserve Bank of Australia (RBA) said it needs to take into account multiple factors before deciding on whether to have another interest rate rise in August.

The comment came after the Australian Bureau of Statistics (ABS) released data showing annual inflation hit 4 percent in May, up from 3.6 percent the month before.