Australia policy rate holds at 4.6% in October 2026

Australia's central bank policy rate was 4.6% in October 2026, according to the Reserve Bank of Australia. Housing Market Group calculates that this was a change of 0 percentage points from September 2026, when the rate was also 4.6%.

The October 2026 level follows an increase a little earlier in the year. Reserve Bank of Australia figures show the rate at 4.35% in June, July and August 2026. It then stood at 4.6% in September 2026. In October 2025 the rate was 3.6%, and HMG calculations based on Reserve Bank of Australia data put the October 2026 level 1 percentage point higher than a year earlier.

HMG ranked the 6 countries in its comparison by their change on a year earlier. Australia placed 1 of 6 in October 2026, which means it recorded the largest increase in its policy rate between October 2025 and October 2026. Germany's rate rose 0.5 percentage points to 2.5% in October 2026, according to HMG calculations from Deutsche Bundesbank figures. Spain's rate also rose 0.5 percentage points to 2.5%, based on Banco de España data. Canada's rate went up 0.25 percentage points to 2.5% over the same period, according to HMG calculations from Bank of Canada figures.

Some central banks in the comparison lowered their rates instead. The United Kingdom's rate fell 0.25 percentage points to 3.75% in October 2026, based on HMG calculations from Bank of England figures. Brazil's policy rate was 13.75% in October 2026, according to the Bank for International Settlements. HMG's calculations from Bank for International Settlements figures show that this was a fall of 1.25 percentage points from October 2025. Indonesia's policy rate was 5.75% in October 2026, according to Bank Indonesia.

Looking at levels rather than changes, Australia's 4.6% rate in October 2026 was higher than the rates in Canada, Germany, Spain and the United Kingdom. It was lower than the rates in Indonesia and Brazil. Over the year to October 2026, several central banks in the comparison raised their rates only slightly or cut them. Australia's policy rate rose further than any other in the group over that period and then stayed unchanged from September to October 2026.