{
  "id": 10612496,
  "title": "RBA throws mortgage holders under the bus",
  "url": "https://urgent.news/2026/09/29/rba-throws-mortgage-holders-under-the-bus",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T04:34:52.000Z",
  "source": {
    "name": "MacroBusiness",
    "slug": "macrobusiness",
    "url": "https://www.macrobusiness.com.au/2026/09/rba-throws-mortgage-holders-under-the-bus/"
  },
  "original_language": "en",
  "account": "On Tuesday, the Reserve Bank of Australia (RBA) unanimously raised the official cash rate by 0.25%, setting it at a 15-year high of 4.60%. The decision came as no surprise, with the RBA media release describing the move as \"hawkish\" due to elevated inflation and rising global energy prices. The bank's statement highlighted that higher fuel costs have indirectly contributed to inflation, alongside capacity pressures in the economy. RBA officials emphasized their commitment to preventing inflation from becoming entrenched, stating that demand growth needed to remain subdued until inflation returned to target.\n\nEleanor Creagh, Senior Economist at realestate.com.au, explained that mortgage holders across Australia would face a monthly increase of more than $100 in repayments, with Sydney residents hit the hardest. The latest financial market projections suggest further rate hikes, potentially propelling mortgage repayments to levels not seen since the late-1980s and early 1990s. The situation would be particularly challenging for first-time homebuyers who took advantage of the federal government's 5% deposit scheme introduced on October 1st, 2025. Many of these buyers had already experienced three consecutive rate hikes, with more hikes anticipated. The looming risk of negative equity and the inability to meet mortgage payments loomed large over these borrowers.",
  "summary": "As widely expected, the Reserve Bank of Australia (RBA) unanimously lifted the official cash rate (OCR) by 0.25% at today’s monetary policy meeting, taking the cash rate to 4.60%—a 15-year high. The RBA media release was hawkish and noted the following: “Inflation remains elevated and some of the upside risks flagged in August are materialising. The post RBA throws mortgage holders under the bus…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}