The National Bank of Australia Chief Executive Cameron Clyne on Friday said that Australia may be moving towards a "rising rate environment" and it is only a matter of time before the Reserve Bank of Australia announced a fresh round of interest rates hike,

In an interview over ABC News, Cameron told the public to expect interest rates to start rising again.

This after the country's central bank announced early this month that the cash rate of 4.75 percent would stay at least until April. The RBA has not increased the cash rate since this year.

"We are moving into a rising rate environment over the next couple of years," he said.

However, Clyne said that the RBA might maintain the interest rates for at least several months more, but argued that there are indications the cash rates would be raised sometime.

He also welcomed the findings made by Access Economics partner Chris Richardson, who released the findings of his study last month which calls for an increase in interest rates to stop inflation.

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