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Reserve Bank of Australia Lifts Cash Rate to 4.6 Percent in Fourth Hike This Year

Published 14h ago · Updated 12h ago

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Australia's benchmark interest rate has reached a 15-year high of 4.6% as the central bank battles ongoing inflation pressures.

The Reserve Bank of Australia has raised its benchmark interest rate to 4.6%, marking the highest borrowing cost in the country since 2011. The move represents the fourth cash rate increase delivered by the central bank this year to combat stubborn inflation and escalating energy expenses. Policymakers cautioned that further rate rises may follow, compounding pressure on millions of Australian mortgage holders.

The central bank increased the official cash rate from 4.35% to 4.6%.
This decision marks the fourth interest rate increase enacted by the bank within the year.
Policymakers cited persistent inflation and higher energy costs as key drivers behind the hike.
The rate increase pushes borrowing costs to a 15-year high not recorded since 2011.

By the numbers

4.6%benchmark interest rate

4.35%previous interest rate

4rate increases this year

Why it matters

The central bank continues to tighten monetary policy in an effort to bring inflation back toward its target band, directly elevating borrowing costs and living pressures across the Australian economy.

What outlets agree on

The Reserve Bank of Australia enacted its fourth rate hike of the year, lifting the cash rate from 4.35% to 4.6% to curb stubborn inflation.

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In this story

Interest ratesReserve Bank of AustraliaAustraliaInflationCost of livingHousing

Covered by 3 outlets

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