The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.85% on Tuesday, its highest level since November 2008 and in line with Reuters poll expectations. It was the fifth rate hike this year. Consumer prices rose 4.3% in September, up from 4% in August and the highest since March. RBA Governor Michelle Bullock said inflation is “too high”, driven by higher oil prices from the Iran War and stronger domestic spending, and that more hikes could come “if that's what's needed to get inflation down.” GDP grew 2.1% in the June quarter from a year earlier, slowing from 2.5% in March, and Bullock said a recession is “not our base case at the moment.”
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AUD/USD
▲ Likely positiveRelevance: high
| Market | Currencies |
|---|---|
| Close on 11/02/2026 | 0.69982 |
| Change that session | -0.48% |
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