Australia News

Australia Lifts Interest Rate to 4.35 Percent in 3rd Consecutive Increase

The RBA flagged the Middle East conflict as a key contributor to inflationary pressures, with higher fuel costs already flowing through the economy.
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Australia Lifts Interest Rate to 4.35 Percent in 3rd Consecutive Increase
A pedestrian moves past the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Oct. 18, 2022. Lisa Maree Williams/Getty Images
Monica O’Shea
|Updated:

The Reserve Bank of Australia (RBA) has increased the official cash rate by 25 basis points to 4.35 percent following its board meeting on May 5.

This marks the third rate rise in 2026, following increases in February and March, and the first time it’s reached 4.35 percent since 2024.

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Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]