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RBA Rate Decision: Cash Rate Target Rises to 4.85 Percent in a Divided 6-3 Vote

By Ingrid HaugenPublished November 3, 20264 min read
An empty boardroom table sits between chairs pulled back on opposing sides in soft daylight.
A divided monetary policy board raised Australia's cash rate target. Illustration: MarketIntelLabs

Australia's Reserve Bank raised its cash rate target by 25 basis points to 4.85 percent on Tuesday, November 3, 2026, the first decision of the month and the first move since October. The vote was 6 to 3, with six members of the Monetary Policy Board voting to raise the target and three voting to leave it unchanged at 4.60 percent, the Reserve Bank of Australia said in its November 3 statement released at 14:30 AEDT.

Key Takeaways The RBA raised its cash rate target by 25 basis points to 4.85 percent on November 3, 2026. The vote was 6 to 3, with three board members voting to hold at 4.60 percent. The cash rate target has now climbed from 3.60 percent in January 2026 to 4.85 percent today. St…

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RBA Rate Decision: Cash Rate Target Rises to 4.85% | MarketIntelLabs