February 3, 2026
Australia’s RBA Hikes Interest Rates to 3.85% Amid Rising Inflation
Australia's Reserve Bank raised interest rates for the first time in over two years to 3.85%. The move aims to curb rising inflation, increasing monthly mortgage payments by $90 for a $600,000 loan. Inflation is expected to stay above target through mid-2025, tightening the cost-of-living for many Australians.