All Four Major Banks Expect Another RBA Rate Rise in 2026

All Four Major Banks Now Expect Another Rate Rise: What It Means for You

For months, borrowers have been told the worst of the rate rises might be behind us. That story has now changed. ANZ, CBA, NAB and Westpac are all on the same page for the first time in a while, and it’s not the news most homeowners were hoping for.

Westpac was the last of the big four holding out, tipping a rate cut sometime in 2027. That call has now been dropped. Westpac has joined the other three majors in expecting the Reserve Bank of Australia (RBA) to lift the cash rate again before the end of the year, most likely by 0.25 percentage points. NAB is leaning toward a September move, while CBA, ANZ and Westpac are pencilling in November.

Why the Sudden Shift?

Two things changed the picture. Inflation isn’t cooling as quickly as economists hoped, and thelatest figures from the Australian Bureau of Statistics show underlying inflation is still sitting above the RBA’s 2–3% target. At the same time, household spending has held up better than expected, and the flow-on effects from the data centre and AI investment boom are adding extra heat to the economy. Together, that’s enough for the RBA to keep the door open to another hike, something it has flagged repeatedly in its recent monetary policy statements.

We wrote about this build-up a few weeks back in our piece on inflation remaining elevated and what it could mean for borrowers. That “wait and see” period now looks like it’s coming to an end.

What This Means for You

A rate rise doesn’t hit everyone the same way, but almost every borrower has something worth checking right now.

Existing homeowners – another rise means higher repayments. It’s worth working out what an extra 0.25% actually looks like on your loan, and whether your current lender is still the best fit. Lender policy plays a bigger role here than most people realise, something we’ve covered in our article on why lender policy matters for borrowing capacity.

Would-be refinancers – Higher rates can reduce serviceability and may affect which refinance options a borrower qualifies for. If you’re considering refinancing, reviewing your current rate, equity, repayments and lender options can help you understand where you stand.

Investors – cash flow and serviceability deserve a fresh look. A rate rise can change what a lender is willing to approve, even if your circumstances haven’t.

First-home buyers – getting finance-ready early matters more in a rising-rate environment. Pre-approval today could look different from pre-approval in November.

For anyone with a fixed rate coming up for renewal, it’s also worth weighing fixed versus variable against your own situation rather than guessing at where rates land next.

A Reason to Review, Not Panic

None of this means the sky is falling. Rate cycles move, and they’ve moved before. What matters is being prepared rather than reactive. The right loan was never just about today’s rate; it’s about a structure that still works for you as circumstances shift. A quick review now, before the next move actually happens, can make a real difference to how much flexibility you have later.

Ready to Get Ahead of the Next Move?

For tailored advice on your borrowing power, refinancing options, or buying strategy, get in touch with SafeHaven Finance. Call us on 0433 564 936 or book a free consultation, and let’s work out your next step together.