It is the RBA’s job to fight inflation, but governments must do more to help

November 2, 2026 — 4:00am

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The Reserve Bank of Australia is expected to lift official interest rates to an 18-year-high on Tuesday.

The inflation outlook has deteriorated in the past few months despite four previous rate hikes this year.

Prime Minister Anthony Albanese last week told this masthead interest rates are a “blunt instrument” causing pain to mortgage holders.

But the RBA is set to use that tool again in a bid to bring price growth back to its target band of between 2 and 3 per cent – failing to do so risks much greater economic damage over the longer term.

The nagging persistence of price pressures in........

© Brisbane Times