RBA Set to Keep Key Rate Unchanged as Easing Cycle Falters

Expectations for Australia’s central bank meeting this week are straightforward: policymakers will leave interest rates unchanged, and Governor Michele Bullock will steer clear of any guidance as the outlook grows murkier.

Economists unanimously expect the Reserve Bank will keep the cash rate at 3.6% at its Nov. 3-4 meeting, a Bloomberg survey showed, after consumer prices surged beyond expectations. Overnight-indexed swaps also indicate a pause is all-but guaranteed, with markets only pricing a decent chance of a cut in mid-2026.