The RBA increased the cash rate by 25bps to 4.85%, as expected.. The decision was not unanimous, with three Board members voting against the decision to lift interest rates.
Keep calm and muddle on: Global Forward View August 2026 - NAB
19 August 2026
Key points
- Global growth has stabilised in Q2 pointing to a contained Iran-war fallout.
- Q2 GDP results have generally been stronger than expected; we now see global growth of 3.1% in 2026 (previously 3.0%). 2027 growth unchanged at 3.3%. The continued Iran conflict means risks to the outlook remain tilted to the downside.
- The Japan-US yen intervention highlights the fundamental need for the BoJ to raise rates more quickly than it has been doing.
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