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ASX set to open flat as investors brace for RBA's fifth rate rise
ASX set to open flat as investors brace for RBA's fifth rate rise on Melbourne Cup Day.
Key points
- Futures indicate the S&P/ASX 200 Index will open 4 points lower on Monday.
- The S&P/ASX 200 posted its biggest weekly gain since August on Friday.
- The Australian sharemarket is up more than 2 per cent this year but lags Wall Street.
Why it matters. With a follow-up rate increase looming, the central bank's effort to beat stubborn inflation remains a key factor for investors, according to the article.
Australian shares are set for a cautious start on Monday, with investors weighing the Reserve Bank of Australia's fifth interest rate rise on Melbourne Cup Day. Futures indicate the S&P/ASX 200 Index will open 4 points lower after posting its biggest weekly gain since August on Friday. The sharemarket is up more than 2 per cent this year but lags far behind Wall Street, where the artificial intelligence boom has powered big gains despite a recent pullback.
Latest updates
ASX set to open flat as investors brace for RBA's fifth rate rise
The Australian sharemarket is set for a cautious start on Monday, November 2, 2026, as investors brace for a fifth interest rate rise from the Reserve Bank of Australia. The central bank is expected to lift rates on Melbourne Cup Day amid fears it will do whatever is necessary to bring down stubborn inflation. Futures indicate the S&P/ASX 200 will open about 4 points lower. Traders are also worried that oil prices could surge if the United States strikes Iran after elections, and a follow-up rate increase is seen as possible.