Australia’s big four banks believe interest rates will begin to rise from June, in a bid to contain inflation.

The Reserve Bank has kept rates at a record low of 0.1 of a per cent for the past 18 months.

Major lenders are expecting the official cash rate to rise at least four times this year.

Economics writer at the Sydney Morning Herald Rachel Clun told Jo McManus while home owners will be hit self-funded retirees should see some benefits.