RBA lifts cash rate to 4.85 per cent, reaching an 18-year high
The Reserve Bank has raised the official cash rate by 25 basis points to 4.85 per cent, its fifth hike of 2026 and the highest level since 2008, in a majority 6-3 decision by the monetary policy board. Governor Michele Bullock said "some pain now will prevent even worse pain down the track", with the board citing the Middle East conflict and surging AI-related investment as drivers of persistently high inflation, currently sitting at 4.3 per cent. For a household with a $600,000 loan, the five rises this year mean monthly repayments are more than $450 higher than in February. Treasurer Jim Chalmers called the overseas conflict the "primary driver" of inflation, while Opposition Leader Angus Taylor insisted inflation is homegrown. Capital city home values have now fallen for a seventh consecutive month at the fastest pace in 40 years, the Commonwealth Bank is warning of a 14 per cent peak-to-trough property downturn, and economists expect the RBA to hold rates at its December meeting. Also in this briefing: Point Of Law claims Melbourne Cup as Ciaron Maher trains historic trifecta; High Court begins hearing first challenge to under-16 social media ban; Garvan Institute maps immune genes across 2,000 Australians to target 16 diseases.
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The Reserve Bank lifted the cash rate to four point eight five per cent, an eighteen-year high.
Capital city property values face projected downturns of fifteen per cent as mortgage repayments surge.
Point of Law won the Melbourne Cup as trainer Ciaron Maher swept the top three places.
The High Court is hearing a constitutional challenge against Australia's under-sixteen social media ban.
Garvan Institute researchers mapped immune cells across two thousand Australians to target sixteen complex diseases.
- 01Intro1 min
- 02RBA lifts cash rate to 4.85 per cent, reaching an 18-year high: the decision and political clash3 min
- 03RBA lifts cash rate to 4.85 per cent, reaching an 18-year high: household impact and market outlook2 min
- 04Point Of Law claims Melbourne Cup as Ciaron Maher trains historic trifecta1 min
- 05High Court begins hearing first challenge to under-16 social media ban1 min
- 06Where things stand1 min
- 07Garvan Institute maps immune genes across 2,000 Australians to target 16 diseases2 min
- 08Outro1 min
- Cash Rate Target
- Statement by the Monetary Policy Board: Monetary Policy Decision | Media Releases
- Reserve Bank of Australia
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- Overview | Statement on Monetary Policy – November 2026
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- House prices fall for seventh consecutive month as interest rates dent demand
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- Albanese Signals Tighter Spending After RBA Rate Rise to 4.85 Percent
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- Business Debate with Treasurer Jim Chalmers and Shadow Treasurer Angus Taylor - Business Council of Australia
- Point of law leads maher trifecta in melbourne cup
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- Melbourne Cup report, replay and result: Point Of Law leads home Ciaron Maher 1-2-3
- ‘Ridiculously slow’: What every jockey said after the Melbourne Cup
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- Australia: Point of Law the first Northern Hemisphere 3-year-old to win Melbourne Cup
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- Point Of Law (horse) - Wikipedia
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- Reddit Takes Australia’s Teen Social Media Ban to High Court | PYMNTS.com
- Australia's highest court hears challenges to social media ban for children
- Australia’s High Court hears bid to overturn under-16s social media ban
- High Court hears bid to overturn Australia social media ban
- Australia’s social media ban ‘ill-thought-out’, Reddit argues in high court challenge
- Three landmark studies reveal how genetic variation drives disease through immune cells
- Researchers in Australia map genetic links to 16 diseases
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- One moment, please...
- Australia links genetic risk loci for 16 diseases to immune cells
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