A recent update from Australia's central bank indicates that inflation risks are still a concern. The bank notes that these risks are tilted to the upside, suggesting that inflation could potentially increase.

This assessment is linked to tensions in the Middle East, although the exact nature of this connection is not specified in the available information.

Further details on the central bank's warning and its expectations for cost pressures can be found through Reuters, as reported in the Galveston County Daily News.