Australia hikes benchmark lending rate for a fifth time in 2026 to 4.85% in order to fight 4.3% inflation in September

U.S. inflation was 3.7% yoy in September and its benchmark lending rate is 3.88%. 

 Australia hikes rates to 18-year high to fight inflation

 ... In its September decision, RBA governor Michelle Bullock said that inflation is “too high,” driven by higher oil prices from the Iran War and stronger domestic spending. ...