The Reserve Bank Board (RBA) has released minutes from the August meeting.
The minutes have revealed that the board expects to keep hiking interest rates to tame the highest inflation since the 1990s.
The RBA hiked rates again last month, taking the nation?s official cash rate from 0.1 % cent to 1.85 % in just four months.
Members agreed it was appropriate to continue the process of normalising monetary conditions over the months ahead, but it is not on a pre-set path.
The board noted that inflation was expected to peak later than previously thought with the new forecast hitting around 7.75% by the end of 2022, with wages growth starting to pick up.
Behaviour of household spending continued to present a key source of uncertainty for the outlook.