Home owners could face more rate hikes with the new Reserve Bank governor Michele Bullock warning she 'will not hesitate' to increase rates again if inflation is not brought under further control. Ms Bullock has detailed the painful inflation squeeze faced most acutely by highly indebted household borrowers who have seen the cost of repayments surge as the central bank delivered its punishing round of rate rises. Markets now ascribe a 40 per cent chance that the RBA will raise rates when it meets for its November Melbourne Cup Day meeting.