:COUNTER [links:https://www.rba.gov.au/media-releases/2026/mr-26-30.html]
4.85% Australia cash rate target from 3 November 2026

:TABLE [title:Five hikes in 2026, links:https://www.rba.gov.au/media-releases/2026/mr-26-30.html]
Date | Decision | New rate | Vote
3 Feb 2026 | +25 bp | 3.85% | Unanimous
17 Mar 2026 | +25 bp | 4.10% | 5-4
5 May 2026 | +25 bp | 4.35% | 8-1
29 Sep 2026 | +25 bp | 4.60% | Unanimous
3 Nov 2026 | +25 bp | 4.85% | 6-3

:STATS [links:https://www.savings.com.au/news/rba-lifts-cash-rate-to-4-85]
[icon:DOLLAR] Extra per month on $500k mortgage | +$77
[icon:DOLLAR] Extra per month on $731k mortgage (average) | +$115
[icon:DOLLAR] Extra per month on $750k mortgage | +$120
[icon:DOLLAR] Cumulative rise since January 2026 on $600k | +$500/month
[icon:CHART] Sept 2026 CPI year-on-year | 4.3%
[icon:CHART] RBA inflation target band | 2-3%

:INFO
What is not yet settled
• No explicit guidance was given on whether a sixth hike will follow. The Board said policy is well placed to respond.
• The next RBA meeting date is 9 December 2026. No decision has been signalled.
• A recession is not in the RBA's central case, but recession risk has risen with each successive hike.
• October CPI, due mid-November, is the next key data point before December.

:CHECKLIST
What to watch next
[ ] - 2026-11-12 (est.): October CPI release, the critical input before December.
[ ] - 2026-11-03: Governor Bullock press conference, 03:30 UTC, for forward guidance.
[ ] - 2026-12-09: Next RBA Board meeting, with an updated Statement on Monetary Policy.
[ ] - 2027: Analysts at Westpac and CommBank forecast cuts begin August 2027 if inflation falls.

:NOTE
How we know this. RBA primary source: rba.gov.au media release mr-26-30, 3 November 2026 14:30 AEDT (03:30 UTC). Vote split and forward guidance: ABC News live blog (abc.net.au, 03:30 UTC), SBS live blog (sbs.com.au, 03:30 UTC). Mortgage repayment calculations by loan size: Canstar and REA Group analysis via savings.com.au and domain.com.au. Rate hike timeline: Kalkine Australia (kalkine.com.au) and rbawatch.com. CPI 4.3%: Australian Bureau of Statistics media release (abs.gov.au), October 2026.

:LINK
https://www.rba.gov.au/media-releases/2026/mr-26-30.html
RBA: Statement by the Monetary Policy Board (primary source)

:LINK
https://www.abc.net.au/news/2026-11-03/rba-interest-rates-markets-live-coverage/107338216
ABC News: RBA hikes cash rate to 18-year high of 4.85 per cent

:LINK
https://www.sbs.com.au/news/live-blog/rba-november-2026-interest-rates-decision-live/f6csn2n1w
SBS: RBA November 2026 interest rates decision live

:LINK
https://www.savings.com.au/news/rba-lifts-cash-rate-to-4-85
Savings.com.au: Why the RBA hiked the cash rate this month

:LINK
https://www.domain.com.au/news/rba-interest-rates-live-updates-november-2026-decision-1577726/
Domain: RBA hikes interest rates to 4.85 per cent