Australia raises interest rates to 15-year high

Reserve Bank of Australia lifts benchmark rate to 4.6 percent amid stubborn inflation.Published On 29 Sep 202629 Sep 2026Australia’s central bank has raised interest rates to a 15-year high, spelling higher mortgage payments for millions of Australian households.The Reserve Bank of Australia (RBA) on Tuesday lifted the benchmark rate by 0.25 percent to 4.6 percent, its highest since 2011.Recommended Stories list of 4 itemslist 1 of 4Rubio, Saudi Arabia’s foreign minister hold talks on Yemen, Hormuz Straitlist 2 of 4Pope Leo says AI risk concerns not ‘fake news’list 3 of 4More than 80 reported abducted in Nigeria as police find human remainslist 4 of 4Public transport drivers strike in Manila over soaring fuel pricesend of listThe RBA said inflation remained elevated and that previously flagged “upside risks” had materialised, including higher energy prices due to the United States-Israel war on Iran and an AI-driven surge in tech costs.“There continue to be heightened uncertainties about the outlook for domestic economic activity and inflation,” the bank’s monetary board said in a statement.“The Middle East conflict remains unresolved, and there are scenarios where inflation is hig...