RBA hikes official interest rate to 4.35% in blow to mortgage holders
Reserve Bank of Australia raises rates for third consecutive meeting, lifting them to early-2025 levels Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The Reserve Bank has delivered a third straight interest rate hike to contain growing inflationary pressures linked to higher fuel prices, even as it warned the Iranian war would deliver a major blow to the economy. The widely expected decision to lift the cash rate to 4.35%, fro
Reserve Bank of Australia raises cash rate for third consecutive meeting as governor says increases ‘are not going to do anything for inflation’ in next six months
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The Reserve Bank governor has said surging oil prices in the wake of the US-Israel war on Iran have made Australians poorer with “no way out”, after handing down an interest rate rise and warning more hikes could be needed.
A week out from the federal budget, Michele Bullock also warned inflation would get worse if governments’ cost-of-living relief was not “targeting where it’s most needed”.
Coverage from 3 sources
- RBA hikes official interest rate to 4.35% in blow to mortgage holdersGuardian - World · Patrick Commins and Luca Ittimani · May 5, 2026, 4:41 AM
- RBA interest rates: Reserve Bank hikes official cash rate to 4.35% in blow to mortgage holdersGuardian - World · Patrick Commins and Luca Ittimani · May 5, 2026, 5:16 AM
- RBA interest rates: Michele Bullock says Australians poorer with ‘no way out’ as she warns of more rate hikesGuardian - World · Patrick Commins and Luca Ittimani · May 5, 2026, 7:44 AM
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