RBA Hikes Interest Rates Fifth Time This Year

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 2 Nov

   Financial markets and most economists expect the RBA to lift official interest rates on Tuesday afternoon to an 18-year high of 4.85 per cent in a bid to quell inflation that has sat above the bank’s 2-3 per cent target band for most of the past four years.

   2 outlets · Sydney Morning Herald
2. 3 Nov

   A 0.25 percentage-point increase takes the cash rate from 4.60 per cent to 4.85 per cent, its highest level since the global financial crisis in 2008.

   3 outlets · Daily Mail

Coverage 17 articles

• 3 Nov ‘Everyone is feeling the pain’: Interest rate hike hits Sydney hardAustralia's Reserve Bank raised the official interest rate to 4.85%, marking the fifth increase this year and the highest since the global financial crisis. In Sydney’s western suburbs, residents are experiencing significant financial strain; a $600,000 mortgage now sees an additional monthly repayment of about $100. Many locals express frustration and worry over rising costs and reduced spending on essentials like…Sydney Morning Herald
• 3 Nov RBA lifts interest rates for fifth time this year
  Sydney Morning Herald
• 3 Nov The Reserve Bank has played its part. Now it’s Jim Chalmers’ turnThe Reserve Bank of Australia has raised interest rates for a fifth time this year, predicting economic growth of 1.6% in the year to June despite challenges like rising mortgage payments and inflation. With real wages expected to fall and unemployment projected to rise above 5%, Treasurer Jim Chalmers faces pressure to address growing fiscal deficits and curb government spending to stabilize the economy amid these…Sydney Morning Herald
• 3 Nov Tough Christmas looms as rates and inflation hit household budgetsAustralia’s Reserve Bank has announced its fifth interest rate hike of 2026, aiming to curb inflation that currently stands at 4.5%, well above their target range of 2-3%. The bank projects real wages will decline this financial year as wage growth is forecasted at just 3.4% while prices are expected to rise by 3.7%. With mortgage repayments already consuming 10% of disposable income, the increase in rates further…ABC News (AU)
• 3 Nov How today's RBA rate hike affects your hip pocketThe Reserve Bank of Australia (RBA) has raised its cash rate by 0.25 percentage points for the fifth time this year, increasing it to 4.85%, the highest since November 2008. This hike aims to curb inflation which currently stands at 4.3% annually, while trimmed mean inflation sits at 3.6%. The increase will particularly impact those with variable-rate mortgages, adding approximately $92 per month to repayments on a…ABC News (AU)
• 3 Nov The worst of inflation is 'well and truly behind us', Jim Chalmers said last year. That feels especially enraging right now: PVOThe Reserve Bank of Australia raised interest rates by 25 basis points to 4.85%, marking the fifth increase this year in response to high inflation. This move is particularly challenging for households already strained by rising costs, while businesses face higher financing expenses alongside reduced customer spending. Critics argue that although rate hikes are necessary to combat inflation, the government could be…Daily Mail
• 3 Nov RBA interest rates: Reserve Bank hikes cash rate for fifth time this year in blow to mortgage holdersThe Reserve Bank of Australia raised its cash rate for the fifth time this year, increasing it from 4.6% to 4.85%, amid efforts to control high inflation driven by global oil price shocks due to the Middle East conflict. The decision split the monetary policy board, with six members voting for a hike and three against. This latest increase will add $107 monthly to the interest payments on a $700,000 home loan…The Guardian
• 3 Nov RBA board split but majority backed raising interest rates to 18-year highThe Reserve Bank increased Australia’s official interest rate to 4.85%, its highest since November 2008, despite a slowing housing market and rising unemployment. The decision was made by a 6-3 majority amidst concerns about inflation driven by the Middle East conflict and the AI boom, which also affected oil prices and business investment forecasts. This hike adds approximately $100 to monthly mortgage repayments…Sydney Morning Herald
• 3 Nov Breaking: RBA lifts interest rates to highest level in 18 years to try to dampen inflationThe Reserve Bank of Australia (RBA) raised interest rates by 0.25 percentage points to 4.85%, marking the highest level since late 2008. This is the fifth increase in 2026 as part of efforts to combat inflation, with the possibility of further hikes remaining on the table.ABC News (AU)
• 3 Nov Another huge blow for Australians with a mortgage as interest are increased for the fifth time this yearThe Reserve Bank of Australia has raised interest rates for the fifth time this year, increasing them by 0.25 percentage points to 4.85%, the highest level since 2008. This hike will add an additional $92 per month in repayments for someone with a typical mortgage of $600,000, bringing the total increase over five hikes this year to $456 monthly. Canstar's Sally Tindall warns that borrowers are already under…Daily Mail

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