Will the overseas oil shock influence interest rates? | ABC Business Daily

The price of Brent Crude has spiked again, with prices climbing close to the highest levels seen since the start of the war as hostilities across the middle east escalate.

How is the Australian economy bearing these overseas shocks, as inflation continues to stubbornly sit at a rate higher than the RBA would like?

And just what does it mean for the chances of a rate hike next week?

Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily.