Fourth rate rise expected as Chalmers defends inflation response
The RBA is expected to raise interest rates to a 15-year high for the fourth time this year.
The Reserve Bank of Australia is expected to raise interest rates on Tuesday when its board meeting ends. That makes four rate rises in 2026.
The increase would push rates to a 15-year high. Treasurer Jim Chalmers said Australians are already facing very heavy pressure.
A further rise would add more pressure. However, the government wants to manage inflation through responsible budgeting and help with living costs.
Chalmers said the RBA's goal and the government's goal are the same. Both want to keep unemployment low and get inflation lower and steadier.
He said Middle East developments are adding to Australia's inflation problem.
- Four
- Rate hikes in 2026
- 15-year high
- Interest rate level
- Treasurer Jim Chalmers
- Speaker
Why it mattersHigher rates mean larger mortgage payments for borrowers and better savings interest for savers. This directly affects household budgets across Australia.
AustraliaAustralian mortgage holders will face higher repayments if the RBA hikes as expected, adding pressure on households already dealing with cost-of-living pressures.
Corroborated byabc.net.au
✓ Claims checked against the source and corrected before publish. checked 2 h ago
Open this story in InSnip →
