Rising Fuel Prices Are Already a Rate Rise. The RBA Just Hiked On Top Anyway.
The RBA just raised the cash rate to 4.1%. That is two hikes in two months. The big four banks are tipping a third in May to 4.35%, which would be three consecutive rate rises for the first time since March 2023, back when they were trying to wrangle post-COVID inflation. Two rate hikes in the first quarter of 2026 has added $225 a month to the average home loan, or $2,700 a year. That nearly wipes out the three rate cuts we got in 2025.