{
  "id": 17849894,
  "title": "Live: Reserve Bank tipped to hike interest rates to 18-year high",
  "url": "https://urgent.news/2026/11/02/live-reserve-bank-tipped-to-hike-interest-rates-to-18-year-high",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T20:13:00.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-11-03/rba-interest-rates-markets-live-coverage/107338216"
  },
  "original_language": "en",
  "account": "Today's financial news promises to be a significant day for the Australian economy as the Reserve Bank of Australia's monetary policy board prepares to announce its interest rate decision. The market is widely expecting the cash rate to be lifted to an 18-year high of 4.85%, fueled by senior central bank officials warning that inflation remains too high. This decision could be the fifth hike this year.\n\nIn addition to the interest rate announcement, horse racing enthusiasts will have the Melbourne Cup to look forward to, with races taking place at 3pm AEDT. After this, RBA Governor Michele Bullock will provide a media briefing at 3:30pm AEDT to discuss the decision.\n\nMeanwhile, global oil markets have seen considerable movement overnight, with Brent crude futures settling 7.63% lower at $US104.77 a barrel and US West Texas Intermediate crude dropping 7.36% to $US96.46. This decline comes after comments by US President Donald Trump and discussions between Iranian and Qatari officials. Despite concerns over the potential escalation of the Middle East conflict following US midterm elections, Trump reportedly said Iran may be open to a deal to end the war.\n\nDespite these positive developments, analysts remain skeptical, as false dawns have been common in recent months. However, with a significant interest rate decision on the horizon, the market will be closely watching the Reserve Bank's announcement for further guidance on the economic outlook.",
  "summary": "The Reserve Bank board meets today after senior central bank officials warned inflation was still too high, prompting expectations of a fifth hike this year. Follow the day's events and insights from our business reporters on the ABC News live markets blog.",
  "key_points": [
    "Reserve Bank to hike interest rates to 4.85%, an 18-year high",
    "Melbourne Cup races at 3pm AEDT, followed by RBA media briefing at 3:30pm AEDT",
    "Global oil prices drop 7.63% and 7.36% respectively amid US-Iran tensions"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Sydney Morning Herald",
        "title": "Australia news LIVE: RBA set to lift interest rates to highest point since 2008 sparking recession fears; PM warns of increasing dangers to democracies at Commonwealth summit",
        "url": "https://urgent.news/2026/11/02/australia-news-live-rba-set-to-lift-interest-rates-to-highest-point-17851840",
        "published": "2026-11-02T20:02:23.000Z"
      },
      {
        "outlet": "The Age",
        "title": "Australia news LIVE: RBA set to lift interest rates to highest point since 2008 sparking recession fears; PM warns of increasing dangers to democracies at Commonwealth summit",
        "url": "https://urgent.news/2026/11/02/australia-news-live-rba-set-to-lift-interest-rates-to-highest-point",
        "published": "2026-11-02T20:02:23.000Z"
      }
    ]
  },
  "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."
}