Labor Primary Vote Falls to 27 Per Cent
The latest Newspoll shows Labor at its lowest primary vote since Anthony Albanese took office in 2022, as the Reserve Bank prepares to lift interest rates.
Updated on Nov. 1, 2026 in Employment
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Labor's primary vote dropped to 27 per cent in the latest Newspoll, matching its lowest level since Anthony Albanese won office in 2022. The Reserve Bank is scheduled to raise the official cash rate from 4.6 per cent to 4.85 per cent on Tuesday.
Why it matters
The Reserve Bank cited domestic pressures, high oil prices linked to Middle East conflict, and aggregate government and business spending as reasons for the expected rate rise. Another hike could further pressure the housing market across Australia.
Newspoll recorded Labor's primary vote at 27 per cent, the lowest since Anthony Albanese won office in 2022, with the Coalition at 21 per cent and the Greens at 13 per cent. Albanese's net approval stands at minus 23, while 59 per cent of voters are dissatisfied with his performance, and the margin and sample size of the poll were not reported.
The players
Anthony Albanese
Anthony Albanese is the Prime Minister of Australia, leading the Labor government since winning office in 2022.
Reserve Bank of Australia
The Reserve Bank of Australia is the nation's central bank, responsible for monetary policy including setting the official cash rate.
Angus Taylor
Angus Taylor is a senior Coalition politician who is competing with Albanese in polling as preferred prime minister.
The details
The Newspoll results were released on Sunday night and showed 54 per cent of voters had never heard of Richard Marles or Mark Butler. Albanese leads Angus Taylor as better prime minister 42 per cent to 40 per cent, while the Reserve Bank is widely expected to lift the cash rate to 4.85 per cent on Tuesday.
Timeline
Sunday night: Newspoll released showing Labor's primary vote at 27 per cent.
Tuesday: Reserve Bank scheduled to raise the official cash rate to 4.85 per cent.
March 2027: HSBC projects a 50 per cent chance of recession.
Economic Backdrop
The poll arrives as a potential Reserve Bank rate rise and high oil prices linked to Middle East conflict pressure household budgets. HSBC's Paul Bloxham warns another hike could make a recession by March 2027 a 50 per cent chance.
A rate rise to 4.85 per cent would lift borrowing costs for households with mortgages and could tighten the housing market. Households should review loan repayments and budgets ahead of any change in interest rates.
The takeaway
Rising interest rates and weakening political support signal a tougher economic period ahead, so households should plan their budgets for higher repayments and possible slower growth.
What happens next
The Reserve Bank is scheduled to announce its decision on the official cash rate on Tuesday.
Further reading
Explore more on Employment for context on the economic pressures shaping the national mood.
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