The Monetary Policy Board said inflation remains elevated and recent data indicate that price pressures are broad based. It revised its inflation outlook higher and said domestic capacity pressures appear tighter than previously estimated. Six board members voted for the increase, while three preferred to leave the rate at 4.60%.
The cash rate is a target for overnight lending between banks. It can influence mortgage, savings and other borrowing rates, but each lender sets its own customer rates. The RBA said it will assess incoming data and risks before future decisions; it did not announce another rate change.
Source: Reserve Bank of Australia, monetary policy decision, 3 November 2026: https://www.rba.gov.au/media-releases/2026/mr-26-30.html
Cash rate overview: https://www.rba.gov.au/cash-rate-target-overview.html
Image disclosure: The featured thumbnail is a ChatGPT/OpenAI-generated conceptual illustration. It is not an RBA chart or a photograph of an actual household.
