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Economy · Impact 3 Serious

Reserve Bank of Australia raises cash rate to 4.85%, fifth hike this year

· Sydney, Australia · single source so far

The RBA lifted its rate from 4.6% to 4.85%, the highest since 2008, to curb inflation of 4.3% in the year to September. The bank cites the global oil shock from the Middle East war.

Location
Sydney, Australia · Australia live map
Coordinates
33.87°S 151.21°E
Reported
3 Nov 2026, 03:30 UTC
Category
Economy
Impact
3 of 5 · Serious
Situation
Australia economy
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Australia economy right now

▲ Escalating

RBA raises cash rate to 4.85%, its fifth hike this year

The Reserve Bank of Australia lifted its cash rate from 4.6% to 4.85% on Tuesday, the highest since 2008, to curb inflation of 4.3% in the year to September. The bank cites the global oil shock from the Middle East war. Before the decision, NSW premier Chris Minns warned a rise would cause job losses and shop closures.

  • Cotality data shows home values fell for a seventh straight month.
  • Capital city prices are falling at the fastest pace in 40 years, led by Brisbane and Perth in October.
  • Minns urged federal and state governments to cut spending, adding pressure on the Albanese government.
Updated 3 Nov 2026, 03:58 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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