Reserve Bank of Australia raises interest rate to 18-year high of 4.85 per cent

Point of Law won the Melbourne Cup by a country mile - and rates went up just as everyone expected them to.

Point of Law won the Melbourne Cup by a country mile - and rates went up just as everyone expected them to. In fact the only surprise this afternoon is that three members of the Reserve Bank Board voted against putting the cash rate target up to 4.85 per cent, revealing some controversy inside the board about whether they can  slow inflation without wrecking the economy. Listen now to The Front’s afternoon headlines. 

Read more: 

Rate rise ‘to address domestic capacity pressures’, RBA governor Michele Bullock says

$170bn black hole ahead of rate call that stops a nation

RBA risks a 90s-style slump as rate hikes struggle for traction

Point of Law wins after Robbie Williams rocks Flemington

Point of Law won the Melbourne Cup by a country mile - and rates went up just as everyone expected them to. In fact the only surprise this afternoon is that three members of the Reserve Bank Board voted against putting the cash rate target up to 4.85 per cent, revealing some controversy inside the board about whether they can&nbsp; slow inflation without wrecking the economy. Listen now to The Front&rsquo;s afternoon headlines.&nbsp;
Read more:&nbsp;
<a href="https://www.theaustralian.com.au/nation/politics-latest-albanese-defends-overseas-trips-amid-rba-rate-hike-decision/live-coverage/c30de1209df36aebe08b0f47ffb6e8ba">Rate rise &lsquo;to address domestic capacity pressures&rsquo;, RBA governor Michele Bullock says</a>
<a href="https://www.theaustralian.com.au/commentary/editorials/170bn-black-hole-ahead-of-rate-call-that-stops-a-nation/news-story/66cf7c6225c94c9dd858c90f82788804">$170bn black hole ahead of rate call that stops a nation</a>
<a href="https://www.theaustralian.com.au/business/markets/rba-risks-a-90sstyle-slump-as-rate-hikes-struggle-for-traction/news-story/308d2488257d3b7de0df5899f6781583">RBA risks a 90s-style slump as rate hikes struggle for traction</a>
<a href="https://www.theaustralian.com.au/sport/horse-racing/melbourne-cup-race-2026-live-updates-and-results/live-coverage/7a17222af6f319b18843dc64d14d6085">Point of Law wins after Robbie Williams rocks Flemington</a>

The Front brings the unrivalled journalism of Australia's national broadsheet to audio, featuring behind-the-scenes insight from our newsrooms.

The Front brings the unrivalled journalism of Australia’s national broadsheet to audio, featuring each day’s essential page-one stories, journalists’ candid take on the issues that matter, and behind-the-scenes insights from our newsrooms.

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The Front brings the unrivalled journalism of Australia&rsquo;s national broadsheet to audio, featuring each day&rsquo;s essential page-one stories, journalists&rsquo; candid take on the issues that matter, and behind-the-scenes insights from our newsrooms.
Read more at <a href="http://theaustralian.com.au">theaustralian.com.au</a> and see the video episodes by subscribing to our <a href="https://m.youtube.com/playlist?list=PLfDC8EeZJyt1IVjv5bCRbFBkTl-VYpJyf">YouTube channel</a>.

The Front brings the unrivalled journalism of Australia’s national broadsheet to audio, featuring each day’s essential page one stories.

The Front

Dissent inside the RBA board about rate rise

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