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Reserve Bank of Australia

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Original editorial illustration showing Australia’s 2026 cash rate rising from 4.60% to 4.85%, five policy steps, and a six-to-three board vote.

Australia Raises Rates to 4.85% for the Fifth Time in 2026 — Why Oil Is Only Part of the Story

Australia raised its cash rate to 4.85% after a 6–3 vote, the fifth increase in 2026. The RBA says domestic capacity pressures—not just expensive oil—help explain the decision.

AustraliaReserve Bank of Australia

2026-11-049 min read ↗