# A safe bet Labor is in for a rough economic ride this Melbourne Cup Day - ABC News

> An ABC political analysis says a further Reserve Bank rate rise is widely expected on Melbourne Cup Day, with markets pricing more than an 80 percent chance of a move to 4.85 percent. The piece attributes inflation to wars, an oil price spike and the AI boom, and describes growing internal discontent in the Albanese government.

- Date: 2026-10-31 · published 2026-11-01T06:11:03.516Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/4281-a-safe-bet-labor-is-in-for-a-rough-economic-ride-this-melbourne-cup-day-abc-news
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

The story is mainly political commentary on expected rate hikes and does not add new supply, demand or price information for feed commodities. Its main relevance is confirming the tightening outlook for Australian borrowing costs.

## Sources

- abc.net.au: https://www.abc.net.au/news/2026-11-01/interest-rate-myefo-albanese-armstrong-analysis-economy/107327460

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.