According to CoinMeta, the minutes of the meeting released by the Reserve Bank of Australia (RBA) at its August meeting show that there was disagreement among the nine members of the policy committee regarding whether to raise interest rates. Several members believed that, given the risk of rising inflation, raising rates might be necessary. Other members argued that the current cash rate of 4.35% was effective in reducing inflation and that it would be advisable to “give some time” to observe the economic development. The meeting minutes warned that future data needed to show that inflation would further decline to the target range of 2% to 3% within a reasonable period. The committee identified the Middle East conflict, the global boom in artificial intelligence and data center investments, and low productivity as major risks. Current market pricing indicates that the probability of the RBA raising the cash rate to 4.6% at its next meeting on September 28-29 is only 13%, while the likelihood of a rate hike before February next year is about 67%.