Commonwealth Bank CEO Matt Comyn said a November rate increase remains on the table, with the Reserve Bank’s next move hinging on quarterly inflation data due at the end of the month. He said CBA believes the central bank has finished raising rates for now, but described the RBA board’s final meeting of the calendar year as “live”. Comyn also noted national house prices fell 8.2 per cent when rates last peaked in 2023, and urged a stronger focus on productivity to lift economic growth.

Eli Lilly has launched an online platform, LillyDirect, that bypasses traditional pharmacies to deliver the GLP-1 drug Mounjaro to patients’ homes. The service initially offers tirzepatide injections for type 2 diabetes and obesity, with private purchases costing up to $700 a month. Some users say buying through the platform can be about $50 cheaper. Doctors and pharmacists have criticised the model, warning it could put patient safety at risk.

The Reserve Bank of Australia lifted its cash rate by 25 basis points to 4.6%, the fourth increase this year and the highest level since November 2011. Australia’s four largest banks said they will raise variable home-loan rates by 25 basis points from October 9. The moves come as lenders point to persistent inflation, ongoing global uncertainty and broader economic pressures.

Australia’s Bureau of Statistics reported annual CPI inflation rose 4% in August, slightly below the 4.1% expected by the market. The RBA-watched trimmed mean measure held at 3.6% for a third straight month. Following the release, markets sharply pared back expectations for a November rate increase, putting the probability at about 20%.

The Reserve Bank of Australia lifted the cash rate by 25 basis points to 4.6%, the highest level in nearly 15 years. The move adds $114 a month to repayments on a $750,000 mortgage, taking the cumulative increase to $454 since the RBA began raising rates in February. Financial Counselling Australia said the decision would intensify stress for households already struggling to make repayments.

The Reserve Bank of Australia has raised its benchmark rate to 4.6%, a 15-year high, with Governor Michele Bullock saying inflation is being pushed up by multiple pressures at once. Preliminary research by the progressive Centre for Policy Development suggests a temporary 0.5 percentage point increase in the super guarantee could pull about A$2 billion per quarter out of the economy, an effect similar to a 0.25 percentage point rate hike. The research also found administered prices contributed 7.2 percentage points of the 26.8% cumulative inflation between 2020 and 2026.

Australian Treasurer Jim Chalmers defended the government’s inflation record, arguing that higher petrol prices — not fiscal spending — have been the main driver. He said the budget deficit for the last financial year was A$6 billion narrower than the A$28.3 billion forecast in May, signalling efforts to restrain spending growth. Markets widely expect the Reserve Bank of Australia to lift rates on Tuesday to 4.6%, the highest level in 15 years, adding pressure on households.

Australia’s unemployment rate rose to 4.6% in August from 4.5% in July, marking its highest level in the post-COVID period. The participation rate climbed to 67.1%, near the record high. RBA governor Michele Bullock has said an unemployment rate between 4.5% and 5% would help cool the labour market and ease inflation pressures. Some economists say the increase in unemployment is not enough to stop the central bank raising rates next week.

Reserve Bank of Australia Governor Michele Bullock said in a Sydney speech that the labour market remains “a bit too tight”, adding to upward pressure on wages, business costs and inflation. She said unemployment would likely need to rise to between 4.5 and 5 per cent to take enough heat out of the labour market to ease inflation pressures. Most of the big four banks expect the RBA to lift rates next week, with ANZ also factoring in a September increase. Commonwealth Bank has also raised fixed-rate mortgage pricing, including its two-year fixed home loan rate.