The Reserve Bank of Australia raised the cash rate by 25 basis points to 4.85% on Tuesday, November 3, 2026 — Melbourne Cup Day — effective November 4. It is the highest level since late 2008.
It is the fifth rate rise of 2026, after increases in February, March, May and September, taking the cash rate from 3.60% at the start of the year to 4.85%.
The nine-member Monetary Policy Board voted 6–3 in favour of the rise, with three members voting to hold at 4.60%. The RBA removed its reference to raising rates further if needed.
All of the big four banks — CBA, Westpac, NAB and ANZ — confirmed they will pass on the full 0.25% increase to variable home loan customers from Friday, November 13, 2026. Macquarie will follow from November 19.
Canstar modelling puts the November rise alone at about $92 a month extra on a $600,000 loan, with the five 2026 rises together adding about $456 a month.
RBA Governor Michele Bullock said it was unclear what the next move in interest rates would be. The next RBA decision is scheduled for Tuesday, December 8, 2026.
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Bhudev Bhagaliya is an experienced and senior journalist who has carved a distinct niche for himself in the world of Hindi journalism through his profound understanding and precise writing style. With over two decades of experience in the field of journalism, he has held key responsibilities at Dainik Hindustan for 12 years and at Amar Ujala for one year. Currently, he serves as the Content Editor for the Jagrook Youth News newspaper and portal, where he plays a crucial role in ensuring the quality and credibility of the news content. Bhudev Bhagaliya consistently writes about issues that help raise awareness within society and among the younger generation.