{
  "id": 10642993,
  "title": "Australia’s central bank lifts rates to 15-year high",
  "url": "https://urgent.news/2026/09/29/australias-central-bank-lifts-rates-to-15-year-high-10642993",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T07:38:12.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/29/australia-s-central-bank-lifts-rates-to-15-year-high-cannot-rule-out-more-hikes"
  },
  "original_language": "en",
  "account": "Australia's central bank, the Reserve Bank of Australia (RBA), increased its cash rate to a 15-year high on Tuesday, voting unanimously to raise rates by 25 basis points to 4.6%. This marked the fourth rate hike this year, bringing the total tightening to a full percentage point. The decision was seen as widely expected, but Governor Michele Bullock stated that the board had considered keeping rates steady, expressing uncertainty about whether the cumulative rate increases would be sufficient to contain inflation. The RBA is now looking ahead to assess the impact of these rate hikes on the economy.\n\nBrent crude prices surged, up nearly 20% since August, which intensified price pressures, and fuel costs were expected to have driven headline inflation up to 4.1% in August, surpassing the RBA's target range of 2% to 3%. Underlying inflation was projected to remain sticky at 3.6%. Rising global oil supply disruptions and higher-than-expected growth and inflation in Australia contributed to the higher inflation figures.\n\nEconomists largely predicted the rate hike based on hotter-than-expected inflation in July, surging oil prices, and repeated warnings from policymakers about materialising inflation risks. The Australian dollar fell 0.4% to US$0.6989, while three-year government bond yields decreased by 6 basis points to 4.974%. Market expectations now stand at a 33% probability of a November rate hike, with a near certainty of a rate increase by February next year.\n\nThe RBA has implemented a 100 basis points of tightening this year, reversing the 75 basis points of policy easing from 2025 and positioning Australia ahead of most developed nations. The U.S. Federal Reserve introduced its first rate hike in over three years, and the European Central Bank increased rates twice this year. Treasurer Jim Chalmers highlighted the economic burden of the war, stating that Australian workers did not choose this conflict but are bearing the financial consequences.\n\nDespite the economy slowing due to higher borrowing costs, annual growth remained at 2.1% in the second quarter, surpassing the 2% growth limit that the central bank deems sustainable without triggering inflation. Household spending dipped in August after a strong initial quarter, but the annual growth rate stayed robust at 6.8%. The labour market showed signs of easing, with employment growth exceeding expectations and the unemployment rate slightly rising to 4.6%, primarily due to more people entering the workforce. The RBA is expected to continue its tightening bias for the foreseeable future, increasing the likelihood of another rate hike by November.",
  "summary": "The Reserve Bank of Australia said some inflation risks had materialised and that it was prepared to hike further if needed.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Australia’s central bank raises cash rate to 15-year peak",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-raises-cash-rate-to-15-year-peak",
        "published": "2026-09-29T04:59:19.000Z"
      },
      {
        "outlet": "RTHK News - Finance",
        "title": "Australia raises key interest rate to 15-year high",
        "url": "https://urgent.news/2026/09/29/australia-raises-key-interest-rate-to-15-year-high",
        "published": "2026-09-29T05:07:37.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Australia’s central bank raises cash rate to 15-year peak",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-raises-cash-rate-to-15-year-peak-10616557",
        "published": "2026-09-29T05:18:48.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Australia’s central bank lifts rates to 15-year high, signals risk of further hikes",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-lifts-rates-to-15-year-high-signals-risk-of-10621461",
        "published": "2026-09-29T05:36:00.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Australia's central bank lifts rates to 15-year high, signals risk of further hikes",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-lifts-rates-to-15-year-high-signals-risk-of-10622911",
        "published": "2026-09-29T06:08:45.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Australia raises interest rates to 15-year high",
        "url": "https://urgent.news/2026/09/29/australia-raises-interest-rates-to-15-year-high",
        "published": "2026-09-29T06:29:01.000Z"
      },
      {
        "outlet": "Gulf Times Business",
        "title": "Australia's central bank raises cash rate to 15-year high",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-raises-cash-rate-to-15-year-high",
        "published": "2026-09-29T06:30:00.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Australia’s central bank lifts rates to 15-year high",
        "url": "https://urgent.news/2026/09/29/australias-central-bank-lifts-rates-to-15-year-high",
        "published": "2026-09-29T07:38:12.000Z"
      }
    ]
  },
  "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."
}