RBA Lifts Rates to 4.85% for Fifth Time in 2026 as Inflation Hits 4.3%
Updated
Updated · The Guardian · Nov 3
RBA Lifts Rates to 4.85% for Fifth Time in 2026 as Inflation Hits 4.3%
3 articles · Updated · The Guardian · Nov 3
Summary
Australia’s central bank raised the cash rate 25 basis points to 4.85%, its fifth increase this year and the highest level since 2008.
Inflation accelerated to 4.3% in the year to September, prompting the RBA to tighten again as the Middle East war-driven oil shock pushes up prices.
A $700,000 mortgage will cost about A$107 more a month after the move, taking the increase from this year’s five hikes to A$532, according to Canstar.
More than 3.3 million mortgage holders now face heavier repayment pressure, adding to strain on Prime Minister Anthony Albanese’s government as Treasurer Jim Chalmers warned households were already under substantial pressure.