{
  "id": 630395,
  "title": "November 'circled' as pivotal month for Aussie household budgets",
  "url": "https://urgent.news/2026/08/11/november-circled-as-pivotal-month-for-aussie-household-budgets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-11T09:29:27.000Z",
  "source": {
    "name": "SBS News",
    "slug": "sbs-news",
    "url": "https://www.sbs.com.au/news/article/november-next-rate-rise-rba-predictions/romib0o8r"
  },
  "original_language": "en",
  "account": "November is anticipated to be a crucial month for Australian household budgets as economists and financial experts speculate on the potential for another interest rate hike. The Reserve Bank of Australia (RBA) decided to maintain the cash rate at 4.35 per cent, a move that was expected by 92 per cent of surveyed experts. However, 44 per cent of the panel still anticipate a further rate increase this year, with November emerging as the most probable month for a hike. KPMG chief economist Brendan Rynne explained that the RBA's decision to hold rates steady provides additional time for the central bank to analyze upcoming economic data. The economy is currently operating at full capacity, with unemployment at 4.4 per cent and public sector spending continuing to increase demand. Despite strong household spending, Rynne believes the RBA may ultimately need to rely on higher interest rates to control demand and support the target inflation range of 2 to 3 per cent. A further rate increase could put additional strain on households by raising borrowing costs and potentially dampening consumer spending. The wealth effect caused by potential house price declines may also influence consumer behavior. Nonetheless, the strong labor market ensures households continue to spend despite ongoing cost-of-living pressures. Major banks have revised their forecasts following lower-than-expected inflation data, with Westpac, ANZ, and Commonwealth Bank expecting the RBA to maintain current rates into 2027. UBS Global Wealth Management's head of Australian equities, Mike Jenneke, predicts a potential November rate hike, although he acknowledges the uncertainty surrounding the decision. Ebury chief economist Anthony Malouf anticipates the RBA will keep rates on hold until mid-2027, with the first cut potentially occurring in the second half of next year. Australians with mortgages are already facing higher interest payments since the earlier rate hikes, with an average borrower now paying an additional $359 monthly in interest. Finder suggests borrowers review their mortgage options and consider refinancing to secure better deals. Although November is the most likely month for another rate increase among those expecting one, the RBA is not committed to this path. The central bank will have additional data to consider before its November meeting, including September-quarter inflation and labor market information. The RBA must balance bringing inflation down with minimizing the impact on households and the broader economy.",
  "summary": "The penultimate month of the year has emerged as one some economists are watching closely.",
  "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."
}