The R word

<p><strong>Wednesday 18th March 2026</strong></p><br><p><a href="https://www.nab.com.au/content/dam/nabrwd/documents/notice/corporate/nab-research-disclaimer.pdf" rel="noopener noreferrer" target="_blank">NAB Markets Research Disclaimer</a>&nbsp;</p><p><a href="https://www.nab.com.au/financial-services-guide?S_KWCID=SEACT" rel="noopener noreferrer" target="_blank">Financial Services Guide | Information on our services -</a>&nbsp;<a href="https://www.nab.com.au/financial-services-guide?S_KWCID=SEACT" rel="noopener noreferrer" target="_blank">NAB</a></p><br><p>Today NAB’s Sally Auld unpacks the fallout from the RBA's recent interest rate hike to <strong>4.1%</strong>. While the decision was a close 5-4 split, it was a question of timing rather than any division of intent. Governor Michelle Bullock’s warning that a recession might be a "necessary" cost to tame stubborn inflation has sent …