4 November 2026 · Issue 157
Rates Rise Before Black Friday
The Reserve Bank has lifted the cash rate to 4.85%, the highest level since late 2008, and the new rate takes effect today. It is the fifth rise this year, and it lands a little over three weeks before Black Friday. For shoppers with a mortgage, the message is simple: work out your new repayment first, then set your Black Friday and Christmas budget around what is left.
Today’s brief leads on the rate rise and what it means for your sale budget, then covers what retailers are saying, more pressure on David Jones, this morning’s household spending figures and the latest on the Kathmandu and Rip Curl takeover talks. The retailer offers later in this issue are a separate, freshly verified selection from a disclosed partial scan.
Cash rate rises to 4.85%, the highest since 2008
The Reserve Bank’s Monetary Policy Board said on Tuesday that it had increased the cash rate target by 0.25 percentage points to 4.85%. The decision was by majority: six members voted for the rise and three voted to leave the rate at 4.60%. The Board said inflation remains elevated and broadly based, that higher fuel prices are being passed through to the prices of other goods and services, and that inflation is now expected to stay above 3% for the coming year and not reach the top of its 2 to 3% target range until late 2027. The ABC’s Gareth Hutchens reported that it is the fifth increase of 2026 and that the cash rate has not been this high since late 2008.
Canstar’s analysis, published on 2 November estimated that a 0.25 point rise would add $92 a month to the minimum repayment on a $600,000 owner occupier loan with 25 years remaining, taking the increase across the five rises since February to $456 a month, assuming banks pass it on in full. Canstar’s Harry O’Sullivan reported on Tuesday that a $700,000 loan could face an extra $107 a month, or more than $500 a month compared with January. Canstar data insights director Sally Tindall said, “Banks are becoming increasingly selective about which savings rates get a boost when rates rise.” At the time of writing, early on Wednesday, ANZ and Westpac said they were still reviewing their home loan rates, and Savings.com.au’s Bernadette Lunas reported that Commonwealth Bank and NAB had yet to announce their response. Nine’s Tilli Andrew reported that Macquarie Bank will lift its variable home loan rates by the full 0.25 percentage points from 19 November, with its transaction and savings account rates rising by the same amount on the same day. Our Tuesday brief looked at how shoppers were already keeping their baskets small.
What it means for your Black Friday budget
ChannelNews’ David Richards reported on Tuesday that the Australian Retail Council’s chief economist Glenn Fahey said higher mortgage repayments and fuel bills were squeezing shoppers, while retailers carry higher financing, freight, wage, energy, insurance and leasing costs. “Consumers are shopping carefully, waiting for promotions and looking closely at value,” Mr Fahey said. The council cited 1,006 retail companies entering external administration or having a controller appointed in the 2025 to 2026 financial year, up 15.5%.
For shoppers, the practical steps are the same whether or not you have a mortgage. Check your bank’s announcement and app for your new repayment, and if your bank lifts savings rates, check whether the rise applies to your base rate or only to bonus interest. Then set one total figure for Black Friday and Christmas, write down the few bigger items you actually need with today’s price beside each, and only buy when the sale price beats it. If you use buy now, pay later, add every instalment to the same budget so the repayments do not stack up in January.
David Jones: lender funding, a missed deadline and gift card advice
The ABC’s Emilia Terzon reported on Tuesday that David Jones has missed a deadline to file its latest financial year reports with the corporate regulator, ASIC, and that its key lender, Hilco Capital, has put in extra money so the retailer can stock up for the festive season; the ABC understands it is about $10 million. “Hilco remains supportive of the business and any inference otherwise is false,” the lender said. The Sydney Morning Herald’s Colin Kruger and Jessica Yun reported speculation that the retailer could be put into administration as early as this week if it cannot reach agreement on closing some of its 38 stores and on rent concessions. Shop, Distributive and Allied Employees’ Association national secretary Gerard Dwyer said, “The reports of David Jones’ predicament are alarming.” The Herald reported that consumer group Choice has warned shoppers to use up their gift cards while they can, while sources close to the company said gift cards and David Jones Rewards remain “currently redeemable”.
Nine’s Jo Abi reported that the Westfield stores reportedly in focus are Carousel in Perth, Parramatta and Hornsby in Sydney, Woden in Canberra and Southland in Melbourne. David Jones has not published a list of closures. AAP’s Derek Rose reported late on Tuesday that an ASIC spokesman confirmed the 2026 accounts had not been filed, while David Jones said it was continuing to operate all 38 of its stores and does not comment on speculation about closures. Separately, The Australian Financial Review’s Campbell Kwan reported this morning that ASIC has issued infringement notices totalling $4.2 million to large private companies that failed to file audited accounts on time, including fashion retailer Kookai. If you hold a David Jones gift card or store credit, our advice is to use it soon, keep your receipts, and avoid buying new gift cards or paying deposits on larger orders until the picture is clearer.
Household spending figures this morning
The Australian Bureau of Statistics will release its Monthly Household Spending Indicator for September at 11.30am Sydney time today (10.30am in Queensland). In the August figures, household spending was flat for the month and up 6.8% on a year earlier, with clothing and footwear spending down 1.0% for the month. Today’s numbers will show how households were spending before this week’s rate rise, and retailers will be reading them closely ahead of Black Friday.
Kathmandu and Rip Curl takeover talks continue
KMD Brands told the ASX on 2 November that it has given US consumer brand group Bluestar Alliance exclusivity to carry out due diligence on a possible deal to buy all of its shares, with a long stop date of 23 December 2026, and that there is no certainty of a binding proposal. Ragtrader’s Christopher Kelly reported on Tuesday that Bluestar’s portfolio includes Dickies and Scotch & Soda, and that Kathmandu has led the group’s recent turnaround. Nothing changes for Kathmandu or Rip Curl shoppers today: stores, online orders, warranties and gift cards carry on as normal.
Today’s shopping note
A higher rate makes every sale decision count. Price your list now, compare the delivery fee and returns policy along with the price, and read “up to” as a range claim. Confirm size, stock, delivery cost and exclusions before paying.
Our scan records unsuccessful checks as well as successful ones. A retailer page being retrieved is not enough to establish that every offer, item or delivery condition has been verified.
Primary reporting sources: Reserve Bank of Australia, Monetary Policy Decision, 3 November 2026; ABC News, Gareth Hutchens, 3 November 2026; Canstar, 2 November 2026; Canstar, Harry O’Sullivan, 3 November 2026 (Sally Tindall quoted); ANZ home loan rate changes page; Savings.com.au, Bernadette Lunas, 3 November 2026; ChannelNews, David Richards, 3 November 2026 (Glenn Fahey quoted); ABC News, Emilia Terzon, 3 November 2026; The Sydney Morning Herald, Colin Kruger and Jessica Yun, 3 November 2026 (Gerard Dwyer quoted); Nine.com.au, Jo Abi, 2 November 2026; Nine.com.au, Tilli Andrew, 3 November 2026; AAP, Derek Rose, 3 November 2026; The Australian Financial Review, Campbell Kwan, 4 November 2026; Westpac interest rate news page; Australian Bureau of Statistics; KMD Brands ASX announcement, 2 November 2026; Ragtrader, Christopher Kelly, 3 November 2026. Shopper advice and synthesis by Neil Fairhead for It’s On Sale. Hero photo: MDRX, Creative Commons Attribution ShareAlike 4.0, via Wikimedia Commons (Pacific Fair Shopping Centre, Gold Coast, Queensland).
Top 5 Deals of the Day
Five stores. Five categories. The strongest discounts we verified on in stock items from our 3 November retailer scan, with every price and size rechecked this morning, 4 November, at 6.33am Gold Coast time.
We attempted all 179 retailer sale URLs in our 3 November pool and retrieved usable sale content from 145. The remaining pages could not be verified after fallback checks and are excluded. This is a disclosed partial scan, not a complete audit of every Australian retailer. Retrieval does not mean an offer was fully verified: this ranking includes only eligible stores where we confirmed a ticketed sale price against a was price on an item listed as available when checked. Generic sale descriptions, unresolved price evidence and same category duplicates are excluded. Each percentage is the verified example shown, not a discount on every item in store. Offers and stock can change.
Discount
Ally FashionWomen’s FashionClothing sale. The Green Cargo Pants (mid rise, with contrast stitching) are $10 from $59.99 (about 83% off), listed as available in sizes 6, 8 and 12 when checked. A low cost wardrobe refresh that will not dent a tighter budget.83%OFF2
ReviewAccessoriesSale edit. The Odette Headband in Ivory/Multi is $12 from $34.95 (about 66% off), listed as available in one size when checked. An easy stocking filler to price now, well ahead of Christmas.66%OFF3
Surf Dive ’n SkiSurf & KidsSurf sale. Quiksilver Moncata Art thongs for boys in Black/Blue are $7 from $19.99 (about 65% off), listed as available in sizes 8 and 9 only when checked. Summer holiday footwear for less than the cost of a coffee and a muffin.65%OFF4
Hollie Rose BoutiqueDesigner OccasionwearDesigner sale. The Rebecca Vallance Rory Gown in Black is $699.95 from $1,399 (about 50% off), listed as available in size 12 only when checked. For a Christmas party or wedding, compare this price with any Black Friday offer before you commit.50%OFF5
Merchant 1948Men’s ShoesShoe sale. The Giancarlo Moretti Spaniel Dress Shoe is $99 from $189.90 (about 48% off), listed as available in sizes 45 and 47 when checked. A good find if you take a larger size and need dress shoes for the party season.48%OFF% discounts shown are for the verified example in each card. Individual product savings vary.
One More Category Worth a Look
BLOCH: for the young dancer on your Christmas list, the Bloch Nicole Girls Velvet Sweatpant in Black is $40 from $69.95 (about 43% off), listed as available in girls sizes 10, 14 and 16 when checked. Dancewear makes a practical gift, so note the price now and compare it again on Black Friday.