Aug 11, 2026 – 6.07pmMoney market traders scrambled on Tuesday to decipher whether the Reserve Bank of Australia’s next move on interest rates would be up or down, after softer economic forecasts were countered by a tough-talking Michele Bullock who said she “personally” believed another increase may be warranted.The RBA board voted to keep the cash rate steady at 4.35 per cent, in line with market expectations, and published new quarterly forecasts, which projected inflation would fall below 2.5 per cent within two years. Those forecasts pared future rate rise expectations until governor Bullock took to the podium to address the media.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles