The Reserve Bank has signalled that inflation remains a clear and present danger to the economy and another interest rate rise can't be ruled out. It says the recent rise in petrol prices clearly demonstrates the process of returning inflation to target could be uneven. That's despite evidence that twelve interest rate rises since May last year are continuing to slow the economy. While the RBA board left the cash rate on hold at its meeting a fortnight ago, the minutes of the meeting released Tuesday morning show the battle to get inflation down from 4.9 per cent to the 2 to 3 per cent target zone is far from over. ... (full story)