Report published September 29, 2026
Australia: RBA Cash Rate: Unanimous Vote for 25bp Hike
Goldman Sachs · September 29, 2026
The Reserve Bank of Australia raised its cash rate by 25bp to 4.60% in a unanimous decision, aligning with consensus expectations. The accompanying statement retained a hawkish bias, indicating policy could be tightened further as upside risks to inflation materialize.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.The RBA raised its cash rate target by 25bp to 4.60% in a unanimous vote, matching Goldman Sachs and consensus expectations, lifting the rate to its highest level since October 2011.
- 2.The policy statement maintained an explicit tightening bias, warning that upside risks to inflation are materialising and noting that the Board will increase rates further if necessary.
- 3.Domestic output and business investment have shown resilience despite slower housing credit and falling home prices, while trading partner demand is supported by AI-related investment offsetting Middle East conflict headwinds.
Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| RBA Cash Rate Target | 4.60% | Raised at the Monetary Policy Board meeting, matching GSe and Bloomberg consensus |
| Market Priced Tightening Ahead of Meeting | 24.2 bp | Financial markets pricing ahead of the September RBA decision |
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