Name: No surprise as Reserve Bank keeps interest rates on hold
Uploaded: 2025-11-04T06:11:32.172Z
Duration: 2 min 3 s
Description: The Reserve Bank of Australia has decided to keep the cash rate at 3.6% after recent figures showed inflation to be higher than previously expected. Unemployment is also slightly higher.

The Reserve Bank of Australia has decided to keep the cash rate at 3.6% after recent figures showed inflation to be higher than previously expected. Unemployment is also slightly higher.

Canberra

The Reserve Bank of Australia (RBA) has maintained the cash rate at 3.6%, leaving household mortgage rates around 6%. The decision comes as the economy shows mixed signals, with both inflation and unemployment rising slightly more than expected.

Despite a recent spike in inflation above the RBA's target range, the central bank remains confident that inflation will decrease over time. Revised forecasts suggest both inflation and unemployment could rise, and while some economists predict a possible rate increase, the RBA expects one more rate cut next year.

No surprise as Reserve Bank keeps interest rates on hold

On this Cup Day, the one safe bet, rates left on hold. We didn't consider cutting. We basically just talked about holding and the reasons to hold. By leaving the cash rate at 3.6%, the typical household mortgage stays around 6%, but the economy continues to send mixed signals. Unemployment went up a little bit more than we expected, but so did inflation. This is the bit that worries the bank. Inflation has come galloping down since its post-COVID peak, but as interest rates came off, inflation spiked again in the latest figures, back above the bank's target range of 2% to 3%. The RBA says it will stay above that range for some time. This blip in September is going to stay in the inflation numbers for basically the next 12 months, so it's going to have a 3 on it. Unemployment has also ticked higher, but the governor is comfortable with the current settings. We're still confident that inflation is going to come down and we've got employment at a pretty good place. That's a win, says the Treasurer. We've got inflation down, we've kept unemployment low, the economy's continued to grow. What's particularly worrying about today's decision is the RBA's revised forecasts, which see both unemployment and inflation rising. There is one more RBA meeting scheduled for this year, but the focus is really now shifting to next year. If the inflation dragon escapes again, could the next move be up? At least one major bank economist is putting his money on it. But the RBA says its forecasts are for one more rate cut next year. Most private economists agree. I still think it'll be down next year. I think the economy isn't as strong as the Reserve Bank is expecting. It's really an interesting question about whether there's many more rate cuts left to come. We've been warned. Hugh Rimmington, 10 News.

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