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Albanese criticises RBA rate hikes as mortgage concerns deepen

10 News reports the prime minister's intervention ahead of another week of anticipated pressure on Australian borrowers.

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10 News Story of November 1, 2026Trari Newsroom

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Prime Minister Criticises RBA Rate Hikes As Millions Of Aussies Expect More Mortgage Pain | 10 News

Anthony Albanese has criticised interest rate rises as a blunt instrument, with 10 News reporting that millions of Australians are anticipating more mortgage pain next week.

The prime minister's remarks, made before departing for the Caribbean, put the Reserve Bank's approach at the centre of a political argument over household costs. The RBA is Australia's central bank. Raising rates can restrain inflation by making borrowing more expensive, but it also puts pressure on borrowers facing higher repayments.

Energy Minister Chris Bowen backs the description in the report: "I think the RBA knows it's a blunt instrument." Liberal MP Andrew Wallace directs his criticism at government spending instead, while One Nation leader Pauline Hanson calls for reducing national debt and its interest bill.

The report describes expectations of further pressure, not a newly announced rate decision.

Its closing Westpac survey findings capture a housing-market contradiction: many respondents see falling prices as good for the country, yet more than four in five say home ownership is out of reach for ordinary Australians. For households trying to buy, lower prices and affordable borrowing are not necessarily the same thing.

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