Economy · Sydney, Australia · November 3, 2026

Reserve Bank of Australia raises rates to 4.85%

Reported by 1 outlet · under-reported · first reported Nov 2, 7:00 PM ET

The RBA raised its benchmark rate by 0.25 points to 4.85%, the highest since 2008. It cited persistent inflation and higher energy costs linked to the Iran war.

Why it matters

Higher rates raise mortgage costs for Australian households.

Background

Central banks raise rates to slow inflation.

The story so far

1. Oct 27Australia inflation rises to 4.3%
2. Nov 2Australia's central bank expected to raise rates Tuesday
3. Nov 3Reserve Bank of Australia raises rates to 4.85%
4. Nov 4Australia's central bank raises rate to 4.85%

Follow the whole story →

Sources

• AFP via France 24 via Wikipedia ↗November 3, 2026

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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