The Reserve Bank might be forced to raise interest rates sooner than expected after evidence that inflation is starting to run hot in Australia. Consumer inflation for the final three months of last year came into higher than forecast with the annual rate breaking through the RBA's two to three percent target band. ABC's Peter Ryan says RBA governor Philip Lowe will be under pressure to backdown on his pledge to keep the cash rate near zero until 2024. Featured: Jo Masters, chief economist EY; Peter Ryan, ABC.