Australia's Central Bank Raises Rates to 15-Year High

Australia's central bank, the Reserve Bank of Australia (RBA), raised interest rates to their highest level in 15 years in late September 2026. The RBA governor warned that further rate hikes could follow, even if they push the country into a recession. Borrowers are feeling the pressure, with one headline describing them as being "hit over the head" to bring inflation down. The rate increase affects more than just home loans, impacting various aspects of the economy.

In a separate development, OpenAI apologized for a Medicare data breach and announced it was shelving its next-generation ChatGPT. The breach and the decision to delay the product launch were confirmed by the company, though no further details were provided.