Australia’s Reserve Bank Delivers 2nd Straight Interest Rate Rise

This is the first series of rate increases since December 2024.

Treasurer Jim Chalmers address the House of Representatives at Parliament House in Canberra, Australia on March 10, 2026. Hilary Wardhaugh/Getty Images

The Reserve Bank of Australia (RBA) has raised interest rates for the second consecutive month, citing mounting inflation risks amplified by escalating conflict in the Middle East.

In a narrow five–four decision on March 17, the central bank’s monetary policy board raised the cash rate by 25 basis points to 4.1 percent, after a similar increase in February.