Reserve Bank raises interest rates | ABC News Top Stories

May 5, 2026 · 2 min

About this episode

The episode discusses the Reserve Bank's interest rate increase and legal issues surrounding author Craig Silvey, along with concerns about antisemitism in schools.

The Reserve Bank has increased interest rates by 0.25 percentage points. The new cash rate target is 4.35 per cent, up from 4.1 per cent. Interest rates have now returned to the level they were at in February 2025, before the RBA began its rate-cutting cycle - meaning last year’s policy easing has been fully unwound. Rates have been lifted three times this year, but economists say the Reserve Bank Board may now want to wait a while to see how the economy responds before it moves rates again. West Australian author Craig Silvey has pleaded guilty to child exploitation material charges. Appearing in Fremantle Magistrates’ Court today, Silvey - best known for his award-winning book Jasper Jones - pleaded guilty to distributing and possessing child exploitation material in January. A charge of producing child exploitation material, and a second possession charge, have been dropped. Silvey is scheduled to face the Perth District Court on the two charges he’s pleaded guilty to in July. A Victorian mother has told the Royal Commission on antisemitism and social cohesion her children have said they no longer want to be Jewish after hearing repeated offensive remarks by their peers. The…

Topics covered

interest rates
child exploitation
antisemitism
economic policy
legal proceedings

Keywords

interest rates
Reserve Bank
Craig Silvey
child exploitation
antisemitism
Royal Commission

Mentioned in this episode

Organizations: Reserve Bank

Books & works: Jasper Jones

Places: Fremantle, Perth, Victoria, Geelong

Reserve Bank raises interest rates | ABC News Top Stories

About this episode

Topics covered

Keywords

Mentioned in this episode

More episodes of ABC News Top Stories