{
  "id": 10893036,
  "title": "Banks raise interest rates after RBA lifts cash rate to highest since 2011",
  "url": "https://urgent.news/2026/09/30/banks-raise-interest-rates-after-rba-lifts-cash-rate-to-highest-since",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T07:46:20.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-09-30/major-banks-raise-interest-rates-after-rba-cash-rate/107206946"
  },
  "original_language": "en",
  "account": "Australia's major banks will raise variable home loan rates by 0.25 percent starting next month, following the Reserve Bank of Australia's (RBA) decision to increase the cash rate to its highest level in more than a decade. The cash rate, currently at 4.6 percent, marks a 0.25 percent increase and is the highest it has been since November 2011. This marks the fourth hike in interest rates for the year.\n\nThe major banks - Commonwealth Bank, NAB, Westpac, and ANZ - announced the increases to variable interest rates on home loans by 0.25 percent per annum, effective October 9. CBA's group executive retail banking, Angus Sullivan, cited persistent inflation and ongoing global uncertainty as factors adding to economic pressures. Most banks acknowledged that many mortgage holders may find the increased payments challenging.\n\nNAB's group executive personal banking, Ana Marinkovic, advised concerned customers to reach out to the bank early about their finances. Westpac's chief executive, consumer, Carolyn McCann acknowledged that the increase would impact households' cost-of-living pressures. ANZ stated it was reviewing other interest rates. Macquarie Bank also announced it would adjust interest rates across its variable home loan and deposit products from October 15, with variable interest rates on transaction and savings accounts increasing by 0.25 percent per annum, along with its variable home loan reference rates.",
  "summary": "Australia's big four banks announce interest rate rises after the Reserve Bank of Australia lifted the cash rate to its highest level in more than a decade.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Australia inflation stubbornly high in August, defying run of rate hikes",
        "url": "https://urgent.news/2026/09/30/australia-inflation-stubbornly-high-in-august-defying-run-of-rate",
        "published": "2026-09-30T02:54:36.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Australia's August inflation rises to 4.0%, slightly below expectations",
        "url": "https://urgent.news/2026/09/30/australias-august-inflation-rises-to-4-0-slightly-below-expectations",
        "published": "2026-09-30T04:33:22.000Z"
      },
      {
        "outlet": "The Conversation AU",
        "title": "Inflation lifts to 4.0% in August, keeping pressure on the RBA for another rate rise",
        "url": "https://urgent.news/2026/09/30/inflation-lifts-to-4-0-in-august-keeping-pressure-on-the-rba-for",
        "published": "2026-09-30T05:32:29.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Cost of building inflation for August 2026 increases to 4.6% – GSS",
        "url": "https://urgent.news/2026/09/30/cost-of-building-inflation-for-august-2026-increases-to-4-6-gss",
        "published": "2026-09-30T07:54:49.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "US core PCE inflation set to rise in August, pressuring the Federal Reserve",
        "url": "https://urgent.news/2026/09/30/us-core-pce-inflation-set-to-rise-in-august-pressuring-the-federal",
        "published": "2026-09-30T08:30:00.000Z"
      },
      {
        "outlet": "Hellenic Shipping News",
        "title": "Spain’s bunker volumes rise 9% on the year in August",
        "url": "https://urgent.news/2026/09/30/spains-bunker-volumes-rise-9-on-the-year-in-august",
        "published": "2026-09-30T10:00:45.000Z"
      }
    ]
  },
  "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."
}