The Reserve Bank of Australia raised its cash rate target by 25 basis points to 4.85 per cent on Nov. 3, 2026. The Board will continue to do what it considers necessary to bring inflation sustainably back to target, the Monetary Policy Board said in a statement. Primary source: rba.gov.au

Headline inflation was 3.9 per cent over the year to the September quarter, while trimmed mean inflation was 3.7 per cent. The unemployment rate averaged 4.6 per cent in the September quarter, and housing prices in September were almost 5 per cent below their March peak.

Headline and underlying inflation are expected to remain above 3 per cent until the end of 2027. Inflation is forecast to reach the midpoint of the 2–3 per cent range in mid-2028.

GDP growth is forecast to be 1.6 per cent for the year ended June 2027. The unemployment rate is projected to reach a bit over 5 per cent at the end of 2028.