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Reserve Bank of Australia governor Michelle Bullock speaks to press.

Live updates: RBA hikes cash rate to 4.35 per cent, flags further risks

Published 5 May 2026 10:44am

Updated 15m ago 3:14pm

Australia

3:29pm, Just now

Treasurer: Australia 'hostage' to US-Iran conflict

Treasurer Jim Chalmers has pointed the finger at the war in the Middle East for driving up inflation at home.

"The inflation that we saw in the month of March was a story about higher petrol prices. Higher petrol prices are all about the war in the Middle East.

3:14pm, 15m ago

Australians paying a 'hefty price' for war in the Middle East, says treasurer

Treasurer Jim Chalmers is speaking at a press conference, addressing the RBA's rate hike decision.

He has blamed the war in the Middle East for worsening Australia's inflation challenge, saying Australians are already feeling the consequences at the bowser.

3:08pm, 21m ago

Further rate rises may still be on the table, says RBA

The Reserve Bank of Australia has left the door open to further interest rate rises, saying it will "do what it considers necessary" to bring inflation under control.

Today's increase — the third consecutive hike this year — brings the cash rate to 4.35 per cent, but the RBA offered little comfort to borrowers hoping the tightening cycle is near its end, warning there may be "second-round effects" on the economy.

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