Borrowers hit with interest rate rise | ABC News Top Stories

From ABC News Top Stories by ABC Australia

May 5, 2026 · 2 min

About this episode

The episode discusses the recent interest rate rise affecting mortgage borrowers and highlights incidents of antisemitism and geopolitical tensions involving the US and Iran.

Mortgage borrowers will be hit with their third interest rate rise this year following a meeting of the Reserve Bank. The RBA has increased interest rates by a quarter of a percentage point. The new cash rate target is 4.35 per cent, up from 4.1 per cent. RBA Governor Michele Bullock says she understands the pain facing households, but says action is needed now to stop inflation getting out of control. A Jewish man has told the Royal Commission on antisemitism and social cohesion he was encouraged by police to drop his case against a man who allegedly made death threats and performed Nazi salutes. The inquiry has heard from Nir Golan, who has described being verbally abused and threatened by a man at Bondi Junction in October 2023 because he was wearing a kippah in public. Mr Golan has told the inquiry the man then bashed a bystander who tried to intervene, and fled before police arrived. Donald Trump claims the war with Iran is working out very nicely as tensions increase in the Strait of Hormuz. Mr Trump says the US has struck seven Iranian fast boats in the Strait, as Washington seeks to guide stranded ships out of the Gulf through the largely closed waterway. Iran is warning…

People in this episode

Guest: Nir Golan

Topics covered

interest rates
mortgage
antisemitism
politics
Iran
US military

Keywords

interest rate rise
mortgage borrowers
antisemitism
Donald Trump
Iran conflict
Reserve Bank

Mentioned in this episode

Organizations: Reserve Bank

Places: Bondi Junction, Strait of Hormuz, Gulf