Brutal interest rate hike won't address main causes of inflation

Wed 4 Nov 2026 17.09 AEDT

Economy

Brutal interest rate hike won't address main causes of inflation

AAP Image/Dean Lewins

The Reserve Bank’s fifth interest rate hike of 2026 will hurt Australian mortgage holders as big corporates profit.

On this episode of Follow the Money, Matt Grudnoff joins Ebony Bennett to discuss what’s really driving inflation, who’s benefitting in this economy, how the government can support the Australians who need it most.

This episode was recorded on Wednesday 4 November.

Guest: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

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Quality research, analysis, explainers and factchecks from experts you can trust.

Big four banks cash in on borrowers’ misery as rates rise again, the Australia Institute (November 2026)

Profit-price spiral: the truth behind Australia’s inflation by Jim Stanford, the Australia Institute (February 2023)

Woodside records mega war profits while Australians pay through the nose, the Australia Institute (October 2026)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au. Subscribe to Follow the Money on Apple Podcasts, Spotify, Pocket Casts or wherever you get your favourite podcasts.

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