Traders raised bets on a November rate hike after RBA deputy governor Andrew Hauser said the board was considering further increases, even though this would hurt activity and unemployment. Odds for a Melbourne Cup day hike had lengthened after softer September jobs data, but Hauser said the November meeting remained live and the bank faced 'hard choices'. He said a growing share of businesses saw inflation of around 3.5 per cent as the new normal, a scenario the central bank cannot accept, and that much of the oil price rise had yet to be passed on. Inflation data for the September quarter, due October 28, will be pivotal, while economists said the jobless rate rising to 4.7 per cent eased pressure to hike again.
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Related tickers and likely impact
AUD/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 0.70040 |
| 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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