Australia's inflation jump stalls stocks and raises mortgage concerns

The evening bulletin also covers a fatal Melbourne shooting, the discovery of a missing woman's body and a stolen-car ram-raid in Tarneit.

Channel: 7NEWS Australia ·

AustraliaStory of October 29, 2026Trari Newsroom

Why this story? One of 7NEWS Australia's most watched videos since yesterday, with 36,373 views.

7NEWS Australia: The news service of Australia's Seven Network, owned by Seven West Media. 2.3M subscribers and 1.7B views.

Reservoir underworld execution; market braces for rate rise; missing woman's body located | 7NEWS

Things we can learn from the video

Press to jump

0:29The report links a fatal Reservoir shooting to gangland conflicts; police describe a Corolla evading interception.
2:32September inflation reaches 4.3%, increasing expectations of another interest-rate rise.
3:01Chalmers blames intensified wartime price pressures; opposition voices challenge the government's response and further mortgage pressure.
5:48Police report finding missing woman Janet Knight's body in waters off Avondale Heights.
6:06Ben Carroll's campaign-bus tour stops at McDonald's, where his wife defends his work capacity.
8:56A stolen Toyota RAV4 was used in a ram-raid at a Tarneit jewelry store, the report says.

An Australian share-market rally stalled as inflation news intensified expectations of another interest-rate increase, political editor Mark Riley reports in a bulletin from Australia's 7NEWS Australia. Consumer prices rose 4.3% in September, putting household borrowing costs back at the center of the political argument.

The broadcast puts the market-implied chance of a fifth rate increase this year at nearly nine in ten. That is an expectation, not an announced decision by the Reserve Bank of Australia. Deputy governor Andrew Hauser describes inflation readings as too high.

Treasurer Jim Chalmers says the war in the Middle East is intensifying an existing inflation problem. Shadow treasurer Tim Wilson rejects that explanation as inadequate for households struggling with mortgage payments. The segment also includes Greens senator David Shoebridge arguing against placing further pressure on mortgage holders and calling instead for greater contributions from those with substantial wealth.

The bulletin opens with a separate investigation into a fatal shooting outside a home in Reservoir, a northern Melbourne suburb. Reporter Cassie Zervos describes the killing as an execution-style attack linked to the city's gangland conflicts. Homicide detective inspector Leigh Howse says police observed a white Toyota Corolla hatchback that evaded an attempted interception.

Police also report finding the body of Janet Knight, a missing woman from Keilor East, in waters off Avondale Heights. The broadcast says she had been missing since Sunday; it gives no cause of death.

Victoria's election campaign provides another strand of the bulletin. Premier Ben Carroll visits McDonald's during a campaign-bus tour with his wife, Fiona Rothville. She defends his work capacity, while Carroll says businesses appreciate his government's efforts to support confidence.

The closing crime report concerns an early-morning ram-raid at Patadia Jewellery in Tarneit, in Melbourne's west. Reporter Jordan Quinn says a stolen Toyota RAV4 was used to break into the store.

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