According to CoinMeta, the deadlock in the Strait of Hormuz and Trump's hawkish stance still pose a risk of interest rate hikes for the Reserve Bank of Australia (RBA). The RBA believes that Australia is currently facing inflation driven by external factors rather than domestic ones, which has changed the speed of policy responses. Although the RBA's communications do not indicate an urgency to raise rates, markets have already begun to price in this risk, with an expected hike expected by next March. Some analysts think that if energy prices rise significantly, the RBA might raise rates again in September, but there is no sense of urgency at present.