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Australia raises interest rates to an 18-year high to fight inflation

By ChordNews · First written (new coverage )

Breaking: RBA lifts interest rates to highest level in 18 years to try to dampen inflation
Image: abc.net.au
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Summary

The Reserve Bank of Australia lifted interest rates to their highest level in 18 years on 3 November 2026, in a majority decision by the bank's board, to try to dampen inflation. CNBC reported that the decision was in line with expectations from economists polled by Reuters, and that it marked the bank's fifth rate increase this year.

This continues an earlier story: Australia's inflation rate rises to 4.3%, raising expectations of another interest rate hike

Timeline

  1. ABC

    Source ↗

    ABC reports that the Reserve Bank of Australia lifted interest rates to their highest level in 18 years, in a majority decision by the RBA board, to try to dampen inflation.

  2. CNBC

    Source ↗

    CNBC reports that the Reserve Bank of Australia hiked rates to an 18-year high to fight inflation, in line with economists polled by Reuters, marking its fifth rate increase this year.

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