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RBA Holds Rate at 4.35% as Inflation Stays High

8/11/2026

25 3 Full Breakdown

Summary

Story summary

The Reserve Bank of Australia (RBA) kept the cash rate at 4.35 per cent after a unanimous vote.
Governor Michele Bullock said the board only considered holding or raising rates, not cutting.
June headline inflation fell to 3.8 per cent, with trimmed-mean inflation at 3.6 per cent, both above the 2-3 per cent target.
Jim Chalmers said the pause relieves mortgage-holding Australians.
Brendan Rynne warned a further hike to 4.6 per cent could follow.

History

Historical Context

Facing the 2008 global financial crisis, the Reserve Bank of Australia cut the cash rate by 0.5 percentage point to 7.25 % in March, after inflation peaked at 5 % and unemployment rose to 5.5 %. The move echoed August 2007 RBA warnings and mirrors today’s cautious 4.35 % stance under Governor Michele Bullock.

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Story summary

The Reserve Bank of Australia (RBA) kept the cash rate at 4.35 per cent after a unanimous vote.
Governor Michele Bullock said the board only considered holding or raising rates, not cutting.
June headline inflation fell to 3.8 per cent, with trimmed-mean inflation at 3.6 per cent, both above the 2-3 per cent target.
Jim Chalmers said the pause relieves mortgage-holding Australians.
Brendan Rynne warned a further hike to 4.6 per cent could follow.

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