1h agoTue 3 Feb 2026 at 12:45amMarket snapshotASX 200: +1% to 8,869 pointsAustralian dollar: +0.2% at 69.63 US centsS&P 500: +0.5% to 6,976 pointsNasdaq: +0.6% to 23,592 pointsFTSE: +1.2% to 10,341 pointsEuroStoxx: +1% to 617 pointsSpot gold: +3.4% to $US4,820/ounceBrent crude: flat to $US66.30/barrelIron ore: +2% to $US102.85/tonneBitcoin: +0.6% to $US78,884

Price current around 11:45am AEDT

Live updates on the major ASX indices:

13m agoTue 3 Feb 2026 at 2:20am

Petrol down 5.8 cents in a week

Look, I know we’re all waiting for rates.

But there’s been an interesting shift in the only other number that Australians tend to focus on – the one lit up in neon on massive signs you drive past.

Last week the national average retail petrol price fell by 5.8 cents to 170.7 cents per litre (unleaded).

(The 12-month average is 179.5 cents, so this is lower).

The national weekly average ‘metropolitan’ retail petrol price fell by 8.2 cents last week to 170.3 cents per litre, with regional barely above it: down 0.9 cents to 171.6 cents per litre.

For diesel-burners, the national average retail diesel price fell by 0.7 cents last week to 181.4 cents per litre.

28m agoTue 3 Feb 2026 at 2:05am

Dead cat bounce or something more?

Buyers have come rushing into the precious metals market.

At 1pm AEDT, gold is up 3.7% to $US4,842 while silver has surged 6.5% to $US84.42.

Both metals are well down from their record highs but the panic selling, for now, is over.

Analysts have told the ABC it could take a few days for the dust to settle.

Globally, equities and Bitcoin have also rallied.

The VIX index has also fallen a noteworthy 6% back down to 16.3.

37m agoTue 3 Feb 2026 at 1:56amWhat impact will a rate hike have on home buyers?

Canstar says a rate hike today will shrink the average Australian’s maximum home-buying budget by around $12,000.

For a couple, the maximum amount they can borrow can drop as much as $24,000, it says.

“While this isn’t going to completely blow up people’s home-buying budgets en masse, it could push some buyers to the sidelines until they get a clearer idea of just how many hikes might be on the horizon,” Canstar says.

“If you have pre-approval from your bank already, go back to them and double-check you’ve still got the green light on the amount they pre-approved.”

Sally Tindall, director of data insights, has urged borrowers to do a check themselves. 

“The bank will stress test your budget to make sure you can still afford the mortgage at a rate that’s 3 percentage points higher than what you are applying for — a highly unlikely scenario in the near future.

“However, it’s worth running this stress test yourself — because your opinion of what you can afford could well be very different to what the bank thinks you can afford.

“You might not actually like the idea of eating baked beans for the next 3 decades.”

40m agoTue 3 Feb 2026 at 1:53amTokyo leads gains on Asian markets

 Here’s how stock markets are tracking around the region:

Asian markets (LSEG Refinitiv)

(India’s Sensex is yet to open)

46m agoTue 3 Feb 2026 at 1:47amAustralian stocks rallying alongside Asian markets

It’s approaching lunchtime in Sydney and the local share market remains strongly higher, up 1.1%.

If we remain at this level, it will recoup the losses posted by the ASX 200 yesterday.

The gains are broad-based, with most sectors higher, led by materials, real estate and tech.

ASX 200 sectors (LSEG Refinitiv)

The best performing stocks include gold names, which took a hit yesterday:

DroneShield +7.5%Newmont Corp +6.5%Capstone Copper +5.7%Life360 +5.6%Evolution Mining +5%

And the worst:

Neuren Pharmaceuticals -12.6%Ventia Services Group -3.1%Telix Pharmaceuticals -3.1%Karoon Energy -2.5%Graincorp -2.5%

57m agoTue 3 Feb 2026 at 1:36am

How are you feeling about interest rates?

How am I feeling about interest rates? I feel inflation isn’t under control, so am happy to see interest rates rise. I know this would hurt those with mortgages, but inflation is nobody’s friend.

– Jonathan

Rate hike won’t affect me, as my husband and I left our payment the same before the 3 rate cuts last year, so we’ll still be paying more off. That’s honestly the key – don’t change your payments if you get a cut, then if/when they rise again, it won’t affect you 🙂

– Lauren

I have a feeling that they will increase the interest rate by 15 basis points. Taking us back to a nice and “round” 3.75% Nice and round figures, like was intended. 🙂

– Round Rick

Whether you’re a saver wanting higher deposit rates or a homeowner hoping for lower interest repayments, today’s cash rate decision by the RBA at 2:30pm AEDT will impact you.

We’d love to hear your story and possibly interview you for ABC News! Email our journalist at terzon.emilia@abc.net.au

Thanks for your comments so far.

57m agoTue 3 Feb 2026 at 1:35am

Imagine if the RBA holds!

I’ve never seen the ASX have such a great day in anticipation of a rate rise.

– Craig

The ASX 200 is up 1.1% with about two hours to go until the RBA decision

1h agoTue 3 Feb 2026 at 1:18am

Nikkei average jumps more than 1,300 points in morning

Japan’s benchmark Nikkei 225 stock average shot up by more than 1,300 points following overnight gains in US stocks.

The index of 225 select issues listed on the Tokyo Stock Exchange’s top-tier Prime section stood at 53,976 this morning, up 1,321 points from Monday’s closing.

All three key US market gauges advanced Monday, thanks to the release of an indicator showing firm economic conditions in the country.

Tokyo stocks attracted broad buying, with chipmaking equipment maker Advantest, a heavyweight Nikkei component, surging more than 4% at one point.

Reporting with Reuters

1h agoTue 3 Feb 2026 at 1:05am

How much will a rate hike cost borrowers?

If you’re wondering how a rate hike affects you, Canstar may have some answers for those with a mortgage.

If the RBA hikes the cash rate today — and banks pass it on, as we expect they will — the average borrower with a $600,000 debt and 25 years to go would see their minimum monthly repayments rise by $90, it says.

On a $1 million debt, you’re looking at an increase of $150 a month, assuming banks pass it on, according to Canstar’s research.

(Canstar.com.au)

1h agoTue 3 Feb 2026 at 12:53am

Saver, renter or borrower? Tell us your rates story

Whether you’re a saver wishing for higher deposit rates or a person with a mortgage hoping for lower interest repayments, today’s cash rate decision by the RBA at 2:30pm AEDT will certainly impact you.

We’d love to hear your story and possibly interview you for ABC News! Email our journalist at terzon.emilia@abc.net.au

1h agoTue 3 Feb 2026 at 12:38amMaterials sector up along with ASX 200

Materials is the best-performing sector, gaining 2.2%, as of 11:35am AEDT, rebounding from its recent decline.

This sector is off 2.1% for the past five days.

(ASX)

The ASX 200 is also up by 1.2% to 8,882, despite crossing below its 125-day moving average.

The top-performing stocks in this index are Droneshield and NRW Holdings, up 7.5% and 5.8% respectively.

The index has lost 0.7% for the last five days but sits 2.6% below its 52-week high.

2h agoTue 3 Feb 2026 at 12:19amFinancial markets see a 72% chance of a rate hike

The market thinks the likelihood of the RBA lifting interest rates on Tuesday is 72 per cent.

But here’s a very important caveat — the market has been wrong before and at some point it will be wrong again.

You don’t even have to look very far back to find a glaring example.

In July last year, the market was 96 per cent confident the RBA was about to cut rates. It was wrong.

Independent economist Nicki Hutley says the market’s predictions are normally pretty good but forecasting is harder when the data on inflation is less clear.

“I think the market has overreacted to the December inflation data,” she said. “There is something that we need to be watching closely but it feels like it’s a bit of a ‘henny penny, the sky is falling’ over-reaction to me.”

Read more from Ahmed Yussuf, Matt Liddy, Ben Spraggon and Ashley Kyd.

3h agoMon 2 Feb 2026 at 11:32pmNeuren falls on EU regulatory hurdle while NRW Holdings jumps on winning new contracts

Neuren Pharmaceuticals plunged more than 10% after the company said its licensee Acadia Pharmaceuticals was informed of a trend vote from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) on its marketing authorisation application for trofinetide for the treatment of Rett syndrome in the European Union. It’s expected that Acadia will request re-examination of that opinion.

On the flip side, DroneShield (+7%), Lynas Rare Earths (+4%) and NRW Holdings (+3.7%) were leading the gains at open.

Construction company NRW Holdings jumped on winning three civil contracts including projects for Rio Tinto and Main Roads Western Australia. Those contracts are valued at around $270 million in total.

Here were the top and bottom movers at open.

(LSEG)

3h agoMon 2 Feb 2026 at 11:16pm

Market snapshotASX 200: +1% to 8,866 pointsAustralian dollar: +0.1% at 69.51 US centsS&P 500: +0.5% to 6,976 pointsNasdaq: +0.6% to 23,592 pointsFTSE: +1.2% to 10,341 pointsEuroStoxx: +1% to 636 pointsSpot gold: +1.1% to $US4,715/ounceBrent crude: -4.3% to $US66.31/barrelIron ore: -1% to $US102.80 a tonneBitcoin: +0.4% to $US78,760

Price current around 10:15am AEDT

Live updates on the major ASX indices:

3h agoMon 2 Feb 2026 at 11:12pm

ICYMI: intense competition for affordable homes drive property pricesLoading…

Property prices have continued to rise across the country at the start of 2026, but the pace of growth is expected to slow as interest rate hikes put off prospective buyers.

3h agoMon 2 Feb 2026 at 11:07pmASX opens 1% higher

The Australian share market has opened sharply higher after a rally on Wall Street.

The ASX 200 index gained 1% or 87 points to 8,868, by 10:05am AEDT.

Miners and banks led the gains.

3h agoMon 2 Feb 2026 at 10:44pmIf RBA hikes, you can’t say it didn’t warn us

Could RBA economists conceivably see inflation returning to target without a rate hike? We’ll know this afternoon, and while it’s not the dominant view, it’s not a fringe one, either, Stephanie Chalmers writes this morning.

If you walk away from a central banker unsure whether they are leaning towards hiking or holding interest rates, it could be said they’ve done a pretty decent job — avoiding accusations of dipping their toe into the dangerous waters of forward guidance.

Former Reserve Bank governor Philip Lowe is perhaps the most infamous recent example of what happens when a central banker wades right in.

It’s an accusation you could not level at RBA deputy governor Andrew Hauser after an interview last month, which had me leaving the room slightly unsure whether I’d learned anything new.

Read more here:

4h agoMon 2 Feb 2026 at 10:08pm

ICYMI: Alan Kohler’s Finance Report

4h agoMon 2 Feb 2026 at 9:51pm

Rate hike would boost savings or erode buffers

Late last year, my partner and I felt uneasy about the direction the world was heading. We expected that Trump’s behavior would create ripple effects globally, especially in the stock market, and that did play out. To protect ourselves, we decided to use our savings to pay off the mortgage so we could feel secure in owning our home outright.

– Missy

I don’t believe we’ll get a rate hike. My bet is the RBA will hold. We have only just started saving with the last 3 cuts, so for us, we won’t have to cut our spending yet if they do raise rates, but it means less of a buffer

– Hopeful

Hi Stephanie. As a retiree with money in the bank and no mortgage I am very lucky I know. Rate rises are good for me. I do appreciate the difficulties faced by younger generations but we have all been through them in our early days. My only advice – buy where you can afford not where you want . Long commutes are part of the early days process.

– Phillip

As always, there’s a range of different ways an interest rate hike would affect Australians.

Thanks to all of our readers writing in — keep your comments coming.