Australia's unemployment rate rose to 4.7% in September, a five-year high, according to the Australian Bureau of Statistics, above economists' forecast of 4.6%. Employment fell by almost 40,000, less than expected. The figure raises the prospect that the Reserve Bank of Australia (RBA) will hold rates at its next meeting on Melbourne Cup day in early November, though unemployment is already above its 4.5% forecast for the December quarter. Several RBA officials will speak this week. NAB economist Jessie Cameron said the RBA is likely to hold but the risk of a hike remains, while the official cash rate currently sits at 4.6%, the highest in 15 years.
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Related tickers and likely impact
AUD/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 0.69462 |
| Change that session | +0.35% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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