‘Don’t do it’: Kochie issues blunt warning as fresh rate hike threat looms

News Corp AustraliaFirst published 5 Aug 2026, 11:20amA top finance commentator is pleading with Australia’s central bank to hold fire as mortgage holders battle rising living costs — arguing inflation is being driven by factors outside of their control. Ahead of the RBA’s August rates decision, Compare the Market economic director David Koch has warned governor Michele Bullock against lifting the cash rate again as rising petrol prices, grocery costs and higher mortgage repayments push families to the limit. RELATED: Kochie’s gold rush warning: Lock up your jewels ‘Lipstick effect’ hits property: Aussies ditch renos for micro luxuries Compare the Market economic director David Koch. Photo: Jono Searle. Mr Koch said another rate rise would unfairly punish households for inflation being driven by factors largely outside their control. “Australian households are doing it tough,” he said. “Yes, inflation is going up, but that’s not because consumers are spending too much. It’s things outside of their control like petrol prices going up because of the conflict in the Middle East. “Essentially they’re getting another rate hike when they go to fill up the car.” The RBA has already lifted...