Statement on Monetary Policy November 2026

Contents

• In Brief
• Overview
• 1. Financial Conditions
  • 1.1 Assessment of financial conditions
  • 1.2 Interest rate markets
  • 1.3 Corporate funding markets
  • 1.4 Foreign exchange markets
  • 1.5 Australian banks and credit markets
• Box A: How Does an Increase in Longer-term Real Yields Affect Financial Conditions?
• Box B: Developments in the Neutral Rate of Interest
• 2. Economic Conditions
  • 2.1 Commodity price developments
  • 2.2 Global economic conditions
  • 2.3 Domestic economic activity
  • 2.4 Labour market and wages
  • 2.5 Assessment of spare capacity
  • 2.6 Inflation
• Box C: Insights from Liaison
• 3. Outlook
  • 3.1 Key judgements in the forecast
  • 3.2 The global outlook
  • 3.3 Domestic outlook
  • 3.4 Key risks to the outlook
  • 3.5 Detailed forecast information

The cut-off for data used to prepare the Statement on Monetary Policy was 28 November 2026.

Some graphs in this publication were generated using Mathematica.

ISSN 1448–5141