Australians will not see any cash rate cuts in 2026 as higher than expected inflation has hurt the chance of near-term mortgage relief, Commonwealth Bank of Australia’s CEO has declared.

Liberal MP Mike Henry asked CBA boss Matt Comyn, who was fronting the House Standing Committee on Economics, whether the Reserve Bank of Australia will be in a position to cut rates next year.

Mr Comyn said CBA’s economics team was forecasting the cash rate to “stay on hold for the foreseeable future” and noted this “more-likely-than-not” meant it would remain at 3.6 per cent in 2026.

He noted the September quarter inflation data - when inflation shot from 2.1 to 3.2 per cent - was higher than anticipated and the labour market remains tight.

“It’s certainly unlikely that rates will move in the near t

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