Reserve Bank inflation warning to borrowers - brace for more interest rate hikes

Interest rates are set to keep rising after the Reserve Bank governor warned borrowers to brace for more in the coming months with runaway inflation now expected to blow past earlier dire expectations.

Listen to Philip Lowe's speech here

Philip Lowe's bleak outlook comes the RBA board delivered the seventh rate hike in a row meaning more mortgage pain for households already dealing with the surging cost of living.

Here's my analysis on the ABC's AM program.

I also spoke with Tom Oriti on ABC Newsradio