Reserve Bank of Australia Deputy Governor Andrew Hauser warned today that third quarter underlying inflation is tracking significantly higher than previous baseline forecasts. Hauser emphasized that tight labor capacity constraints and persistent service costs could trigger a fifth interest rate hike at the upcoming November 3 monetary policy meeting.
The central bank guidance prompted major investment banks, including Goldman Sachs, to revise interest rate forecasts today to a target rate of 4.85%. Australian commercial banks raised fixed mortgage rates on October 12 after preliminary consumer spending metrics indicated stubborn domestic demand.
https://www.xtb.com/int/market-analysis/news-and-research/morning-wrap-21-10-2026
https://www.reuters.com/markets/central-banks/reserve-bank-australia-monetary-policy-outlook-2026
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