The RBA increased the cash rate by 25bps to 4.85%, as expected.. The decision was not unanimous, with three Board members voting against the decision to lift interest rates.
The Only Way is Up: NAB Global Forward View - NAB
17 August 2026
Economy and Markets
Key points
- Global growth has been resilient so far in the face of the shock to global energy prices, we again revised global growth for 2026 higher this month.
- The global economy will be tested by the renewed spike in energy prices, rising interest rates (short and long-term) as this year’s fiscal stimulus fades.
- The US Fed raised rates this month, by 25bp, and we expect another 25bp move in December.
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