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‘Materially Worse’: RBA Boss Drops Rate Hint
Andrew Hauser said higher oil prices and a softer labour market have made the RBA’s inflation outlook materially worse.
- On Wednesday, Reserve Bank of Australia Deputy Governor Andrew Hauser said the inflation outlook is "materially worse" than forecast, raising the prospect of another interest rate hike as soon as November.
- Hauser noted the bank faces "hard choices" ahead, balancing worsening inflation against a softening jobs market after unemployment rose to 4.7% in September.
- Market pricing now puts the chance of a November rate hike at 42%, up from 30% earlier this week, while core inflation remains around 3.5% above the RBA's 2-3% target band.
- The board meets on November 2 and 3 to decide whether to raise the 4.60% cash rate for a fifth time in 2026, with Hauser warning that failing to act risks embedding inflation expectations.
- Inflation data for the September quarter, due next Wednesday, October 28, will be pivotal to the board's decision, as RBA governor Michele Bullock has emphasized keeping price growth anchored to the target.
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Sydney Morning Herald+4 Reposted by 4 other sources
Reserve Bank in ‘nightmare’ position as it considers another rate rise in November
The Reserve Bank has lifted interest rates four times this year. The chances of another have climbed after a warning from one of its senior board members.
·North Sydney, Australia
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Coverage Details
Total News Sources19
Leaning Left4Leaning Right4Center3Last UpdatedBias Distribution37% Left, 36% Right
Bias Distribution
- 37% of the sources lean Left, 36% of the sources lean Right
37% Left
L 37%
C 27%
R 36%
Factuality
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