The Daily Aus Headlines: First RBA rate rise since 2023
Feb 3, 2026
A major central bank interest rate rise and the inflation context behind it. New Australian sanctions on Iran and concerns about internet blackouts. High-profile U.S. political figures set to testify in an inquiry connected to Jeffrey Epstein. A positive sports note: two mothers break into the top ten of women’s tennis.
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RBA Returns To Rate Rises
- The Reserve Bank raised the cash rate from 3.6% to 3.85% after inflation surprised on the upside.
- The RBA expects inflation to remain above the 2–3% target range for some time, prompting a return to rate rises.
Inflation Still Above Target
- December-to-December inflation was reported at 3.8%, higher than expected and still well above target.
- The RBA is the first major central bank to resume rate increases after the post-inflation spike.
Australia Imposes Iran Sanctions
- The federal government announced new sanctions targeting Iranian individuals and entities over violent repression.
- Australia cited internet blackouts as attempts by Iran's regime to conceal the scale of brutality against protesters.