First major lender passes on rate hike

Banks raise interest rates after RBA lifts cash rate to highest since 2011

Australia's big four banks announce interest rate rises after the Reserve Bank of Australia lifted the cash rate to its highest level in more than a decade.

Interest rates have hit their highest level since 2011. The pain will feel different in 2026

The Reserve Bank this week lifted the cash rate another 0.25 percentage points to 4.6% – its fourth increase this year and the highest it has been since 2011. The bank pointed to stronger-than-expected inflation at home, alongside much higher global energy prices as conflict in the Middle East has broadened. But 4.6% today is not the same proposition for Australian households as a similar cash rate was 15 years ago. The reason is simple. We now …

First major lender passes on rate hike

The Reserve Bank of Australia has officially lifted the cash rate to its highest point since 2011. Here is what it means for mortgage holders.