Reserve Bank of Australia raises cash rate to 4.85% as inflation stays high

Home / Business / MarketsJamie GrayBusiness Reporter·NZ Herald·3 Nov, 2026 04:16 AM2 mins to read‌Australia's central bank has increased its cash rate target. Australia's central bank has increased its cash rate target. The Reserve Bank of Australia has hiked its cash rate target by a quarter of a percentage point to 4.85% in response to “elevated” inflation.The increase in the rate to an 18-year high was in line with expectations. The Reserve Bank of Australia’s (RBA) monetary committee’s decision was not AdvertisementAdvertise with NZME.