{
  "id": 17902298,
  "title": "Australia hikes rates to 18-year high to fight inflation",
  "url": "https://urgent.news/2026/11/03/australia-hikes-rates-to-18-year-high-to-fight-inflation-17902298",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T03:46:20.000Z",
  "source": {
    "name": "CNBC",
    "slug": "cnbc",
    "url": "https://www.cnbc.com/2026/11/03/australia-hikes-rates-18-year-high-finflation.html"
  },
  "original_language": "en",
  "account": null,
  "summary": "The Reserve Bank of Australia's decision to raise interest rates marked the fifth increase this year, a move that aligned with expectations from economists polled by Reuters. According to The Guardian, the hike was expected to bring the cash rate to 4.85%, reaching its highest level in 18 years.\n\nTreasurer Jim Chalmers told RN that Australians are bracing for a \"difficult decision\" and noted that further rate rises would make things harder for people already under substantial pressure. Chalmers stated the government is currently working through spending pressures and economic forecasts to prepare a mid-year budget update for December, noting that savings have been found in all eight previous budget updates.\n\nThe Guardian Australia reported that Prime Minister Anthony Albanese defended his government's record while attending a Commonwealth heads of government meeting in Antigua and Barbuda. Albanese stated that engaging with the world allows the country to address national security interests and strengthen the economy.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Australia’s central bank lifts rates to 18-year high of 4.85%",
        "url": "https://urgent.news/2026/11/03/australias-central-bank-lifts-rates-to-18-year-high-of-4-85",
        "published": "2026-11-03T04:08:06.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Australia’s central bank lifts rates to 18-year high, split vote points to pause ahead",
        "url": "https://urgent.news/2026/11/03/australias-central-bank-lifts-rates-to-18-year-high-split-vote-points",
        "published": "2026-11-03T04:18:25.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Australia's central bank lifts rates to 18-year high, split vote points to pause ahead",
        "url": "https://urgent.news/2026/11/03/australias-central-bank-lifts-rates-to-18-year-high-split-vote-points-17922795",
        "published": "2026-11-03T06:01:43.000Z"
      }
    ]
  },
  "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."
}