Key Highlights

  • Kent is scheduled to be interviewed by Ross Greenwood on News 24 at 11.00 am AEDT on 18 October.
  • He is also scheduled for a fireside chat at the Commonwealth Bank’s Global Markets Conference in Sydney at 10.05 am AEDT on 19 October.
  • In August he described policy as “somewhat restrictive”; since then the cash rate has risen to 4.60% and the minutes flag a larger expected fall in housing prices.

Assistant Governor Christopher Kent is scheduled for a television interview on Sunday 18 October and a conference fireside chat the following morning, both scheduled after the September rate rise and the release of that meeting's minutes.

Two dates on the calendar offer a scheduled opportunity to hear from a senior Reserve Bank official before the next rate decision. Christopher Kent, Assistant Governor (Financial Markets), has two appearances on the Reserve Bank of Australia's (RBA) "Coming Up" schedule in quick succession:

  • Sunday 18 October 2026, 11.00 am AEDT: an interview on News 24 with Ross Greenwood.
  • Monday 19 October 2026, 10.05 am AEDT: a fireside chat at the Commonwealth Bank's Global Markets Conference in Sydney.

Both fall between the publication of the minutes of the Monetary Policy Board's September meeting on 13 October and the next cash rate decision, scheduled for 2.30 pm on 3 November. What Kent will say is not known in advance, and nothing here predicts it. But his previous public remarks, and what has happened since, provide a framework for listening.

Kent's August baseline

Kent's August remarks came in a fireside chat titled "The Restrictive Stance of Monetary Policy", at a Reuters NEXT Newsmaker / LSEG Insight Series event in Sydney on 13 August 2026.

His central assessment was that "monetary policy in Australia is somewhat restrictive". He explained the term: "Monetary policy is considered 'restrictive' if financial conditions are restraining aggregate demand". And he placed the cash rate in context, saying: "The current cash rate is around the top of the range of central estimates of the neutral rate". Neutral rate estimates, he noted, are highly uncertain.

Kent also said "the three cash rate increases earlier this year are having their intended effects", while cautioning that "It takes some time for tighter monetary policy to have its full effect on economic activity and inflation."

On housing, he said "Housing prices have declined in Sydney and Melbourne", with national housing prices falling about 0.5 per cent a month over the previous three months, marking four consecutive monthly falls. Those declines, he said, were not yet as steep as in 2018–19 or 2022. He added that "tax changes announced in the federal budget appear to have contributed to reduced demand".

On the external backdrop, Kent pointed to "resilient global demand because of AI-related investment", and noted the Australian dollar was about 5 per cent higher on a trade-weighted basis since the start of 2026. He also said lending and deposit rates had risen in line with the cash rate, and that scheduled mortgage payments were near their 2024 peak share of income.

What has changed since August

The most significant development since Kent spoke is the Board's decision on 29 September to raise the cash rate target by 25 basis points to 4.60 per cent, the fourth increase of 2026. The decision was unanimous.

The Board's statement said "Inflation remains elevated" and "some of the upside risks flagged in August are materialising", concluding that "a further tightening in financial conditions is warranted to support a return of inflation to target".

The minutes, published on 13 October, add detail directly relevant to Kent's August themes. They describe financial conditions as having "remained somewhat restrictive", with the extent uncertain, and the cash rate as around the top of central estimates of the neutral rate. Members argued that the previous 4.35 per cent cash rate might be less restrictive than two years earlier if the neutral rate had risen.

On housing, the minutes say established prices fell faster than expected, and that "the cumulative fall in housing prices is likely to be greater than had been assumed." New housing loan commitments fell sharply, led by investors.

On markets, the minutes record that Australian equities had fallen about 5 per cent since the previous meeting, and that the Australian dollar was about 5 per cent higher since the start of the year on a trade-weighted basis, having depreciated slightly since the previous meeting. At 4.00 pm on 13 October, the trade-weighted index stood at 64.7, with the Australian dollar at 0.6961 US dollars.

Market pricing and the absence of guidance

Market pricing is part of the backdrop to any appearance by the Assistant Governor (Financial Markets). Before the September meeting, markets expected an increase, then about 15 basis points more by year-end and a further 30 basis points in the first half of 2027, according to the minutes. All surveyed market economists expected the September increase.

The RBA has not endorsed any such path. Governor Michele Bullock said on 29 September: "I'm not going to give you forward guidance." Asked whether the rise would be enough, she said: "Will it be enough? I don't know." She added: "The Board will increase interest rates again if that's what's needed to get inflation down."

The minutes record that the Board will consider "increasing the cash rate target further if required", and that its strategy is to return inflation to target "in a timely manner".

Themes on the record

Without anticipating his remarks, several topics link Kent's August comments to the latest Board material:

  • Restrictiveness and neutral: both Kent and the minutes describe policy as somewhat restrictive, with the neutral rate uncertain.
  • Housing: Kent's August figures on falling prices now sit alongside the minutes' view that the cumulative fall is likely to be larger than assumed.
  • The exchange rate: a stronger trade-weighted dollar since the start of the year, with Bullock noting "The exchange rate channel takes a while to feed through."
  • Lags: Kent's point that policy takes time to work, and Bullock's estimate of 12 to 18 months for the full effect.

September CPI is scheduled for release on 28 October, after both appearances.

The bottom line

Christopher Kent is scheduled to be interviewed by Ross Greenwood on News 24 at 11.00 am AEDT on 18 October and to take part in a fireside chat at the Commonwealth Bank's Global Markets Conference in Sydney at 10.05 am AEDT on 19 October. In August he described policy as "somewhat restrictive"; since then the Board has raised the cash rate to 4.60 per cent and its minutes have flagged a larger expected fall in housing prices. The RBA has given no forward guidance on the 3 November decision.

The listed appearances were scheduled future events as of 14 October 2026. They do not establish what Kent will say or signal about the Board’s next interest-rate decision.