RBA keeps cash rate on hold at 3.60% in November

The RBA kept the cash rate at 3.60%. Inflation has come down a lot since 2022, but the latest quarterly figure was higher than they expected. Part of that was due to one-off factors like electricity rebates ending, but it also shows price pressures aren’t completely gone.

At the same time, the economy is picking up again – spending is improving, housing is stronger, and the labour market is still reasonably solid.

There are also uncertainties around demand and supply in the economy, the jobs market, and productivity. These could push inflation or employment in either direction.

Because of that, the RBA decided to stay cautious and leave the cash rate unchanged.

November 2025