The facts
The RBA's Monetary Policy Board raised the cash-rate target by 25 basis points to 4.85% at its 3 November meeting. [1]
The official statement records a 6–3 vote, with three members preferring to leave the rate unchanged. [1]
The RBA said inflation was expected to remain above its 2–3% target band for longer than previously forecast and cited demand and capacity pressures. [1]
Reuters reported that the decision lifted the cash rate to its highest level in 18 years and quoted Governor Michele Bullock saying the next move was uncertain. [2]
Still unconfirmed
- The size and timing of any further rate change remain uncertain; the decision does not establish a pause or a future increase.
Sources
References support the numbered facts above. Source checks: 3 Nov 2026, 07:31 UTC.
- Statement by the Monetary Policy Board: Monetary Policy Decision
Reserve Bank of Australia · Primary source · 3 Nov 2026
Opened the RBA's official statement with the 25-basis-point increase, 4.85% cash rate, 6–3 vote and inflation rationale.
- Australia's central bank lifts rates to 18-year high in split vote, points to pause ahead
Reuters · Reporting · 3 Nov 2026
Opened Reuters report on the decision and Governor Bullock's comments; the report says the next move is uncertain, not that a pause was decided.