RBA Cash Rate Hike Predictions Mount Amid Higher Inflation Figures

The Reserve Bank of Australia (RBA) may raise interest rates for a fourth time in 2026, according to predictions from some big four banks.

Australia's Consumer Price Index (CPI) rose 3.5% in the 12 months to July 2026, up from 3.8% in the previous period.

The trimmed mean inflation rate remained steady at 3.6%, above the target range of 2-3%.

Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), and Australia and New Zealand Banking Group (ANZ) have adjusted their forecasts, anticipating a cash rate hike in November.

NAB expects a 25-basis-point rise at the RBA's next meeting in September, while CBA and ANZ predict a hike in November.