5 publishers · first seen Wed, 28 Oct 2026 00:49 UTC · updated Sun, 01 Nov 2026 13:01 UTC
The Reserve Bank of Australia is expected to raise interest rates next week following the release of September inflation data showing annual inflation rising to 4.3% in the monthly measure, up from 4.0%. The quarterly measure remained steady at 3.9%, but the focus shifted to the higher monthly figure, driven largely by a 9.4% rise in automotive fuel prices, which accounted for about half the inflation increase. Holiday costs also contributed to the rise, while inflation excluding petrol prices was 3.6%. The RBA has indicated concern over inflation expectations, with Deputy Governor Andrew Hauser stating the outlook is worse than projected in August. Market pricing now reflects an 87% chance of a rate rise, with a December increase to 4.85% fully priced in.
Unemployment rose to 4.7% in September, up from 4.1% in January, with the three-month average up 0.45% over the past year. Despite this, the RBA has signalled that inflation remains its primary concern.
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