2 November 2026 · Issue 155
Rate Rise Tipped for Cup Day
The Reserve Bank board starts its two day meeting today, and by tomorrow afternoon most Australians with a variable home loan will know whether their repayments are going up again. All four big banks now expect a rise. With Black Friday less than four weeks away and Christmas close behind, this is the week to put real numbers on your budget before the sales start pulling at it.
Today’s brief leads on Tuesday’s expected rate rise and what it could cost you, then covers the latest on David Jones, a garden lamp recall and this week’s household spending figures. The retailer offers later in this issue are a separate, freshly verified selection from a disclosed partial scan.
All four big banks tip a Cup Day rate rise
The Reserve Bank’s calendar shows its Monetary Policy Board meets on 2 and 3 November, with the decision and the new Statement on Monetary Policy due at 2.30pm Sydney time on Tuesday 3 November (1.30pm in Queensland), followed by Governor Michele Bullock’s media conference an hour later. Capital Brief’s Jennifer Duke reported on 1 November that economists and markets overwhelmingly expect the cash rate to rise to 4.85%, its highest level since 2008, and that the bank’s new forecasts for inflation and unemployment will be published alongside the decision.
The banks moved after last week’s inflation figures. The Nightly’s Stephen Johnson reported on 28 October that annual inflation rose to 4.3% in September, driven by a 23.6% jump in fuel prices, and that CBA and NAB then joined ANZ and Westpac in forecasting a rise on 3 November. “Inflation is likely to remain elevated for some time,” Ms Bullock told a Senate estimates hearing that morning. CommBank’s own economists wrote that “the key question is whether four hikes this year is enough”, and Head of Australian Economics Belinda Allen expects the Reserve Bank to hold in December and February if it moves this week.
What would it cost? As an illustration only, a 0.25 point rise on a 30 year principal and interest loan at 6.5% adds about $83 a month on a $500,000 loan, $99 a month on $600,000 and $124 a month on $750,000. Your own rate, balance and lender will change those figures, and lenders usually take a week or two to pass on a rise.
For shoppers, the practical step is to set your Black Friday and Christmas budget after Tuesday’s decision, not before. Take the higher repayment out first, then decide what is left for gifts and sales. If you plan a big purchase, such as a mattress, a laptop or a fridge, note today’s price now so you can judge a Black Friday offer on its merits, and be wary of buy now, pay later plans that add a fixed repayment just as your mortgage rises.
David Jones store cuts on the table
The Australian Financial Review’s Street Talk column (Sarah Thompson, Kanika Sood and Angira Bharadwaj) reported on 30 October that owner Anchorage Capital Partners is in advanced talks with landlords about plans to cut the 38 store network by more than half, according to three people briefed on the matter. The West Australian’s Ryan Johnson reported the same day that the retailer is seeking a rent free Christmas, with five Perth stores under a cloud. Earlier, The Sydney Morning Herald’s Jessica Yun reported on 27 October that lender Hilco Capital had “funded above the agreed facility to allow David Jones to increase stock holdings ahead of the busy Christmas trade and sales period”, and that an Anchorage spokesperson said decisions on the size of the business would be made by Christmas.
No store closures have been announced, and David Jones has said it does not comment on speculation. If you hold a David Jones gift card or store credit, the sensible move is to use it sooner rather than later, keep receipts for anything you buy, and check the delivery date on any large order before you pay.
Recall check: tulip solar garden lamp
ACCC Product Safety Australia listed a recall on 30 October for the Pro Garden LED Solar Lamp in a tulip shape, sold in four colours (batch 6195). The recall notice says the lamp does not carry the required button battery warnings, and children are at risk of choking, serious injury or death if they swallow or insert a button battery. Stop using it, keep it away from children and return it to the place of purchase for a full refund. Supplier Yatsal Distributors can be contacted on 02 9755 8735, 9am to 4.30pm on weekdays.
Household spending figures on Wednesday
The Australian Bureau of Statistics will release its Monthly Household Spending Indicator for September at 11.30am Sydney time on Wednesday 4 November (10.30am in Queensland). Coming the day after the rate decision, it will give the first official read on how much households were spending in the month inflation jumped, and retailers will be watching it closely ahead of Black Friday.
Today’s shopping note
Use Monday to write down your monthly repayment and your Christmas budget side by side. If Tuesday brings a rise, adjust the budget on Tuesday night, before the next sale email lands. Read “up to” as a range claim, and 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 calendar; Capital Brief, Jennifer Duke, 1 November 2026; The Nightly, Stephen Johnson, 28 October 2026 (Michele Bullock quoted); CommBank Newsroom, 28 October 2026 (Belinda Allen quoted); The Australian Financial Review, Street Talk, Sarah Thompson, Kanika Sood and Angira Bharadwaj, 30 October 2026; The West Australian, Ryan Johnson, 30 October 2026; The Sydney Morning Herald, Jessica Yun, 27 October 2026; ACCC Product Safety Australia recall, 30 October 2026; Australian Bureau of Statistics release calendar. Repayment examples are illustrative calculations by It’s On Sale. Shopper advice and synthesis by Neil Fairhead for It’s On Sale. Hero photo: Nick D, Creative Commons Attribution ShareAlike 4.0, via Wikimedia Commons (Reserve Bank of Australia building, Sydney).
Top 5 Deals of the Day
Five stores. Five categories. The strongest discounts we verified on in stock items from our 1 November retailer scan, with every price rechecked this morning, 2 November.
We attempted all 179 retailer sale URLs in our 1 November scan 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
Forever NewFashionSale on dresses, knits and tops. The Margot Wrap Detail Knit Midi Dress in Mocha is $29.95 from $159.99 (about 81% off), listed as available in size 10 only when checked. Other sizes may already be gone, so check before you set your heart on it.81%OFF2
Academy BrandMenswearMenswear sale. The Hopper short sleeve shirt in Earth is $20 from $79.95 (about 75% off), listed as available in sizes S, M, L and XL when checked. A summer shirt at a price worth noting before Black Friday.75%OFF3
Charlie & ChumsPets & GiftsSpecials for pet lovers. The Pet Pegs multi use clip or fridge magnet is $3.50 from $11.95 (about 71% off), with breeds from Beagle to Cockapoo listed as available when checked. An easy stocking filler for the dog person in your family.71%OFF4
Lorna JaneActivewearActivewear sale. The Starstruck Rib Bralette is $20 from $65 (about 69% off), listed as available in sizes XS to XL when checked. Check the fit guide, as sale items may have different return rules.69%OFF5
Sunglass CultureSunglassesDesigner sunglasses sale. The Dior Master 2IK/QT 51 in Havana and Gold with green lenses is $216 from $540 (60% off), listed as available when checked. Confirm the lens category and warranty before you buy.60%OFF% discounts shown are for the verified example in each card. Individual product savings vary.
One More Category Worth a Look
Koala: if a new mattress is on your list, the Koala SE Mattress is in clearance at $712 from $950 for a queen (about 25% off), with every size from single ($487 from $650) to king ($892 from $1,190) listed as available when checked. A mattress is exactly the kind of big purchase to price now and compare again on Black Friday.