Reserve Bank of Australia raises interest rates to 4.6 percent
World · 3 November 2026
Written by AI from multiple news reports
Australia's central bank raised its cash rate to 4.6 percent on September 28, 2026. This was the fifth rise in a row and the highest rate since 2011. The Reserve Bank of Australia's board voted unanimously for the increase.
RBA governor Michele Bullock said the global AI boom has pushed prices higher and increased demand in the Australian economy. The bank warned that inflation concerns are becoming real and that further rises are possible.
Despite previous rate increases, household spending has stayed high. It grew 1.6 percent in March 2026 and was 6.3 percent higher than a year before, partly because of rising petrol and transport costs.