After the RBA's third consecutive hike in interest rates, the central bank has become the world's leader in increasing interest rates at such a fast pace post the global recession, and economists have predicted that this will continue as a fourth consecutive rise is in order at the bank's next meeting scheduled for February.

Governor Glenn Stevens, it seems, will continue to lead the world in raising interest rates.

According to predictions, the RBA is all set to increase cash rate target by at least another quarter points to 4% on February 02. The prediction has been shared by all 16 economists interviewed by Bloomberg News.

"Reserve Bank officials are taking the path of least hazard. They are hiking while they have time on their side and the exit from emergency settings can be orderly", shared Stephen Walters, Chief Economist at JPMorgan Chase & Co. in Sydney.

In terms of recovery, Australia has outraced the economies of US, Europe and Japan, all of which have kept interest rates at an all time record low during the recovery period. Cash handouts by Prime Minister Kevin Rudd's government have boosted consumer confidence and house prices.

Traders, on the other hand, are not happy, as the currency yesterday fell after the announcement of the hike in interest rates.

Now, with investors betting a 36% chance of a rise as well in February, it seems that the country needs to tighten its belt.