The Bottom Line
Updated Saturday 7 November 2026
The cash rate is 4.85 per cent, the fifth rise this year, up 1.25 points from 3.60 per cent at the start of 2026. RBA deputy governor Andrew Hauser told an ANU audience that Australians' trust in the Bank's near-term ability to bring inflation down has fallen materially, even as overall institutional trust remains broadly stable. Hauser said the cumulative increase in prices since COVID has far exceeded that in any other tightening period since inflation targeting began.
The Treasurer co-chaired the sixth Australia-China Strategic Economic Dialogue with NDRC Chairman Zheng Shanjie, describing China as Australia's biggest trading partner and noting it is the first time the dialogue has run for three consecutive years. Assistant Minister Andrew Leigh issued a new direction to the Australian Financial Security Authority aimed at reducing regulatory burdens and helping more Australians return to economic participation, saying regulators have an important role to play in Australia's productivity challenge. Non-farm labour productivity was minus 0.3 per cent in the June quarter, consistent with the government's description of productivity as a live concern.
ACCI chief executive Andrew McKellar said costs are rising faster than Australian retailers can absorb them and that rising interest rates will make this worse. MacroBusiness reports that Snowy Hydro 2.0's cost estimate has blown out enormously, with completion now expected in 2029.
ABS dwelling approvals for August 2026 were 16,914, down from 19,191 in July. MacroBusiness argues the pipeline will contract further as the latest rate rise and falling dwelling values weigh on future approvals.
Every figure is checked against official data or attributed to the body that announced it. Past editions