Prep for 4.85pc: Shock RBA minutes reveal job loss warning

Key points

• Unsealed Reserve Bank minutes show board members are prepared to accept slower growth and job losses to bring inflation back to target. Economists at major banks say the minutes point to a possible further rate rise before the end of the year.
• Commonwealth Bank and ANZ economists flagged a November hike as a clear risk. Canstar data shows many lenders have passed on the September hike, with the average owner-occupier variable rate at 6.49 per cent.
• For a $600,000 home loan, repayments have risen $364 a month across the four 2026 rate hikes.