Sentiment slipped on Tuesday, and by Wednesday four of Australia’s biggest banks had swung to a hike call for the 29 September RBA meeting. NAB, Deutsche Bank, UBS and Morgan Stanley now expect a 25bp lift from 4.35% to 4.60%; ANZ and CBA still see a hold. Households already trading down get a fresh set of clearance ceilings today: Rebel Sport at 85% off Fangear, Kick Push at 80%, Booktopia at 60%, and House, Merchant 1948 and Koala anchoring the mid-range. Here is the shopper’s read.
Four Banks Now Tip an RBA Hike on 29 September
The rate-call landscape shifted overnight. Orbit Remit’s policy wrap on 9 September reports that NAB, Deutsche Bank, UBS and Morgan Stanley are all forecasting a 25bp hike at the 29 September meeting, which would take the cash rate from 4.35% (held since 12 August 2026 per the RBA’s cash rate target page) up to 4.60%. ANZ and CBA still call a hold. Aussie Home Loans’ expert wrap lines up the same split.
For shoppers on a mortgage, the practical window is short. Fixed-rate quotes typically shift ahead of the meeting, so this week is the time to get a written offer in hand from your lender or broker rather than after markets price the move in on Monday. If you are eyeing a big-ticket buy on interest-free finance, watch for changes in card and BNPL provider terms during the same window: retailers often renegotiate their finance partners’ rates in the fortnight after a decision.
This Week’s Gift Card Wins (9 to 15 September)
Per Point Hacks’ 7 September round-up, Coles is running 10% off selected gift cards this week (limit 5 per customer, no bonus Flybuys points on top). The full lineup: Uber, Uber Eats, Supercheap Auto, Rebel, BCF, DoorDash, and the Super Retail Group “Super Card” that works across Supercheap Auto, BCF, Rebel and Macpac.
Woolworths is stacking 20x bonus Everyday Rewards points (equivalent to 10 Qantas Points per dollar) on Google Play, TCN Shop, TCN Deluxe, TCN Pamper, TCN Cinema and TCN Kids gift cards, with a 10-per-member daily limit (TCN Deluxe variable capped at 2 per day). The TCN Kids Variable card is excluded.
The clean play for household spend: the Super Card + Supercheap Auto stack is the strongest deal on fuel-adjacent categories this week. If you buy Google Play credit anyway, the Woolworths 20x window is genuine free value.
Households Are Trading Down. Retailers Are Widening Clearance.
The NAB Consumer Sentiment Survey for August 2026 shows Australians are cutting back on eating out, entertainment and holidays, and actively swapping to cheaper products across groceries and household goods. ABS Household Spending for July 2026 already showed the softening: turnover growth is holding annually but flattening month-on-month.
The retailer response is visible in today’s Top 6 below. Sport, skate, books and homewares are the categories where the clearance ceilings have moved highest in the past 72 hours. If you have a shopping list you have been holding, this is the week to work through it before the RBA decision reshapes discretionary spending intent again.
Term 3 Holidays Countdown: Ten Days Out
Term 3 school holidays across QLD, NSW and VIC start Saturday 20 September, ten days away. Camping, swim, uniform and kids’ clothing clearance is still deep across the pool of stores on the It’s On Sale live sales page, and the weekend of 13 to 14 September is the last low-traffic window before family-spend intent picks up. If you drive an out-of-town trip during the break, lock in a set of Woolworths TCN Cinema cards this week too: the 20x point stack makes them the cheapest way to buy holiday-week movie tickets.
Top 5 Deals of the Day
Five stores. Five categories. The deepest headline discounts surfaced from a sweep of every retailer on It’s On Sale, audited at dawn.
% discounts shown are indicative across each store’s sale range. Individual product savings vary.
Other Deals Worth a Look
- Koala: up to 30% off furniture & sleep clearance. Solid pick for spring bedroom refresh before school holidays.
- Veronika Maine: further 20% off already-marked sale, layering nicely for spring workwear.
- Glassons: fresh markdowns added, 15% off for members joining this week.
- Oroton: up to 40% off across the outlet range, worth a look before RBA week.
What to Watch Tomorrow
ABS Building Approvals for July 2026 land on Thursday morning (national release, 11.30am AEST), which typically nudges the homewares and furniture categories most. Woolworths’ Monday catalogue reset previews late tomorrow. And a reminder: the RBA decision on 29 September is now 19 days away, so any big-ticket finance decision is best locked before markets fully price the move.