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Economy · Impact 2 Notable

Australia braces for expected RBA rate rise as NSW premier warns of business closures

· Sydney, Australia · single source so far

NSW premier Chris Minns says an expected Reserve Bank of Australia rate increase will cause job losses and shop closures, and urges federal and state governments to cut spending. The comments add pressure on the Albanese government ahead of the central bank's decision.

Location
Sydney, Australia · Australia live map
Coordinates
33.87°S 151.21°E
Reported
2 Nov 2026, 05:48 UTC
Category
Economy
Impact
2 of 5 · Notable
Situation
Australia economy
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Australia economy right now

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NSW premier warns expected RBA rate rise will cost jobs and close shops

On Monday, NSW premier Chris Minns said an expected Reserve Bank of Australia rate increase will cause job losses and shop closures, and urged federal and state governments to cut spending. His comments add pressure on the Albanese government ahead of the central bank's decision. On Sunday, Cotality data showed Australian home values fell for a seventh straight month as mortgage rates rose.

  • Minns says the expected rate rise will lead to job losses and shop closures.
  • He urges federal and state governments to cut spending.
  • Cotality data shows capital city home prices falling at the fastest pace in 40 years.
  • Brisbane and Perth led October's declines as rising mortgage rates deterred buyers.
Updated 2 Nov 2026, 06:18 UTC · Written by Claude from the reports on this page and on the map. Check the linked sources for full details.

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