Institution: If oil prices fall back slowly and unevenly, the Reserve Bank of Australia will further raise interest rates.

```htmlGolden Ten Data reported on June 29 that in light of the recent warning from the Reserve Bank of Australia that official interest rates may still rise further, issues regarding the Middle East conflict and oil prices remain critical. Matthew Hassan, Head of Australian Macroeconomic Forecasting at Westpac, expects the normalization of oil and natural gas supply to be a "slow and convoluted process." He pointed out that persistent concerns about high domestic inflation will force the Reserve Bank of Australia to further raise interest rates in August. Hassan added that, given the already sluggish economic growth, this decision will be a difficult one for the committee.```