RBA Watch: NAB now expects the RBA to hike in September - NAB

27 August 2026 
Interest Rates  Economy and Markets

Key points

  • We now expect the RBA to increase the cash rate by 25bp in September to 4.6%.
  • July CPI data showed inflation running hotter than the RBA expected in early August, and the RBA has repeatedly signalled in recent weeks that the Monetary Policy Board would act if upside risks to inflation were realised.
  • The risk is biased towards an additional hike in November, especially if activity data shows resilience in coming months

Read the NAB Economics' Monetary Policy update. 

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