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RBA Braces for Rate Hike Amid Rising Inflation Woes

2/1/2026

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Summary

Story summary

Reserve Bank of Australia (RBA) faces rising inflation, with economists forecasting a rate increase in February after three cuts last year.
RBA Governor Michele Bullock said high inflation hurts households, especially those with large mortgages.
The cost of living remains Australians’ top concern and complicates the Albanese government’s agenda.
Recent surveys show consumer pessimism as fears of higher rates mount.
One Nation is gaining traction as inflation drives political sentiment.

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Story summary

Reserve Bank of Australia (RBA) faces rising inflation, with economists forecasting a rate increase in February after three cuts last year.
RBA Governor Michele Bullock said high inflation hurts households, especially those with large mortgages.
The cost of living remains Australians’ top concern and complicates the Albanese government’s agenda.
Recent surveys show consumer pessimism as fears of higher rates mount.
One Nation is gaining traction as inflation drives political sentiment.