FEAR & GREED | Business News Afternoon Report | RBA hikes rates
6 snips
Mar 17, 2026 A quick rundown of the RBA raising the cash rate to 4.1% and the split decision behind it. Market action: ASX 200 moves, banks gaining while tech and retail lag. Corporate updates include a reduced bid for Pepper Money and major asset sales. Legal and political tensions surface with court action tied to a Bondi attack and a delayed US–China meeting amid global conflict concerns.
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RBA Hikes Rate Amid Geopolitical Inflation Concerns
- The RBA raised the cash rate 25 basis points to 4.1% in a 5-4 split to tackle inflation amid Middle East tensions.
- Markets reacted: ASX200 +0.4%, banks led gains as margins improve and NAB passed the hike to mortgage holders.
Winners And Losers After The Rate Move
- Higher rates boosted bank stocks and materials while rate-sensitive tech and retail lagged.
- Westpac +1.4%, NAB nearly +1% (first big four to pass hike to mortgages), BHP and Fortescue rose with iron ore edging up.
Corporate Moves Hurt And Help Shareholders
- Challenger cut its Pepper Money takeover bid from $2.60 to $2.25 citing deteriorating market conditions.
- Pepper Money fell ~15% while Challenger rose 3.5%; Pexa Group sold a unit and New Hope profit plunged 84% causing a 6.5% drop.