Aussie weighed by dovish RBA hike to 4.85% on split vote: Nov 4, 2026
The Reserve Bank of Australia raised its cash rate to 4.85%, an 18-year high, in a split 6-3 vote as its inflation outlook worsened. Governor Bullock said the hike might not be enough but offered no further guidance, saying it was probably good to wait for data and that 'some pain now' would prevent worse pain later. The combination of a divided board and cautious messaging has been described as a dovish hike weighing on the Australian dollar.
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Headlines (11)
Carried over from earlier days
- Economic and event calendar in Asia 03 November 2026 - RBA rate hike expectedInvestingLive
- RBA interest rates live: Reserve Bank of Australia meeting today before cash rate decision and announcement – latest newsThe Guardian
- Statement by the Monetary Policy Board: Monetary Policy Decisionrba.gov.au
- RBA Hikes to 4.85% as Inflation Outlook Worsens, But 6–3 Vote Exposes Policy DivideActionForex
- RBA interest rates: Bullock says ‘some pain now’ will prevent worse pain later as Reserve Bank hikes rates for fifth timeThe Guardian
- RBA’s Bullock offers no guidance, says it is probably good to wait for data after hikeInvestingLive
- RBA governor Bullock says it might be that this rate hike might not be enoughInvestingLive
- Australia hikes interest rate to 18-year highaa.com.tr
- Market Quick Take - US mid-term elections today the focus - 3 November 2026home.saxo
- Australian Dollar: Dovish hike weighs on aussie – CommerzbankFXStreet
- Australian Dollar Price Forecast: Blame the RBAFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, November 4 | ||
| Household Spending m/m | 0.2% | AUD |
| ADP Non-Farm Employment Change | 67K | USD |
| Trade Balance | -107.9B | USD |
| Final Services PMI | 57.9 | USD |
| ISM Services PMI | 54.8 | USD |
| Crude Oil Inventories | -1.7M | USD |
| Thursday, November 5 | ||
| Goods Trade Balance | 0.94B | AUD |
| RBA Deputy Gov Hauser Speaks | AUD | |