Wednesday 4 November 2026 | five Australian stories first, then the main headlines from around the world.
Featured image: Photo: Hubertl, CC BY-SA 4.0, via Wikimedia Commons. Illustrative image of a parliament building.
Australia
1. Banks pass the RBA rate rise on to variable home loans
Macquarie moved first, lifting variable home-loan rates by 0.25 percentage points within an hour of the decision, with the new rate applying from 19 November. Westpac, NAB, ANZ and the Commonwealth Bank each announced the same 0.25-point rise on Wednesday, effective 13 November. ANZ estimated that the change adds about $79 a month to repayments on a $500,000 owner-occupier variable loan. The banks encouraged customers under financial strain to contact them.
2. RBA decision: 6-3 vote and a longer inflation outlook
The RBA board voted 6-3 to raise the cash rate by 0.25 points to 4.85%. Governor Michele Bullock said strong public and private demand was behind the decision, rather than oil prices. The bank now expects inflation to stay elevated through much of 2027.
3. Government and Opposition set out positions on the economy
Finance Minister Katy Gallagher said parliament had blocked some planned savings, including a measure to wind back the private health insurance rebate for people aged 65 and over, which the government estimates would save $3 billion over four years. Opposition Leader Angus Taylor said the Prime Minister and Treasurer were not facing economic reality, and pointed to the Coalition’s plan to cut $31 billion from climate and housing programs. Treasurer Jim Chalmers has said further savings will be sought in the December budget update.
4. Canva to restructure and cut more than 1,200 roles
Canva announced a restructure that the ABC reported will affect more than 1,200 roles ahead of Christmas. The company said the changes are not roles being replaced by artificial intelligence.
5. High Court dismisses Uber’s payroll tax appeal
By majority, the High Court of Australia dismissed Uber’s appeal in full, upholding a New South Wales payroll-tax assessment on fares paid to drivers for the 2015 to 2020 financial years. Uber is expected to pay about $81 million.
Around the World
6. Early US midterm results point to Democratic House majority
Early counting showed Democrats on course to win a majority in the House of Representatives, with many seats still uncalled and control of the Senate undecided. Democrats also flipped a Republican-held Senate seat in North Carolina, according to AP and Reuters reporting.
7. UK leaves door open to a formal apology for the slave trade
UK Prime Minister Andy Burnham said a formal apology for the transatlantic slave trade remains possible but ruled out reparations. Foreign Secretary Ed Miliband said an apology would not add costs for taxpayers. Prime Minister Albanese welcomed a consensus reached on the issue at the Commonwealth meeting in Antigua.
Stories are included only where the reporting could be confirmed. Figures and details may be updated as events develop.
Sources
This report is a summary written in our own words from the following reporting: ABC News: banks lift mortgage rates; ABC News: federal politics live blog, 4 November; ABC News: markets live blog, 4 November; SBS News: RBA decision live blog; Just Security Early Edition, 4 November.
