Summer Heat and Shifting Rates: Your Canberra Morning Briefing

Morning Briefing: Wednesday, 4 February 2026

Good morning, Canberra. The city wakes up to a beautiful summer day today, but while the skies remain clear, the economic forecast has become a central topic of conversation for households across the Territory. Today is a day for balancing the optimism of a packed February events calendar with the reality of new financial pressures and significant legislative changes.

The Mood: A Season of Financial Caution

The mood in the capital this morning is one of cautious adjustment. Following the Reserve Bank of Australia’s decision yesterday afternoon to raise the cash rate to 3.85 per cent, many Canberrans are recalculating their budgets. This 25-basis point hike—the first increase in over two years—marks a significant shift in the national economic landscape. Governor Michele Bullock has cited persistent inflation and low productivity as key drivers, and as the new rate officially takes effect today, the conversation around the kitchen table is firmly focused on the cost of living and mortgage repayments. Despite the financial chill, the city remains vibrant, buoyed by the arrival of peak summer weather and the anticipation of the major festivals scheduled for the weeks ahead.

Key Talking Point: Strengthening Community Safety

In the ACT Legislative Assembly this week, the spotlight is on the introduction of the Firearms (Public Safety) Amendment Bill 2026. This significant piece of legislation represents a major overhaul of local gun laws, aimed at modernizing safeguards in response to national security concerns. The bill proposes a strict cap on the number of firearms an individual can own, generally limited to five, and introduces criminal penalties for possessing blueprints for 3D-printed weapons. This move has sparked widespread discussion regarding the balance between the rights of licensed owners and the government’s priority to enhance public safety following recent national tragedies. Expect to hear robust debate as the details of these classifications and the specific exemptions for primary producers and sporting shooters are scrutinized.

Feel-Good Story: New Beginnings in Strathnairn

Amidst the heavy headlines, a heartwarming milestone is being celebrated in the city’s northwest. This week marks the successful first few days of school for students at Strathnairn School, the 93rd public school to open in the ACT. Welcoming its inaugural cohort of preschool to Year 2 students, the state-of-the-art facility is the first of its kind in the growing Ginninderry region. Designed with a 5-Star Green Star rating and sustainable materials, the school represents a major investment in the future of Canberra’s youngest citizens. For the families in Strathnairn and Macnamara, the opening is more than just a new building; it is the establishment of a new community hub that will grow alongside their children.

Wednesday Snapshot

• Weather: A classic summer day with plenty of sunshine and a forecast high of 30°C. Winds remain light, making it a perfect evening for a walk around Lake Burley Griffin.
• Cultural Note: The National Library of Australia continues its exhibition marking the 30th anniversary of the Mabo v Queensland (No. 2) decision, a poignant reflection for those looking to engage with the nation's history today.
• Commuter Alert: Traffic remains heavy around the National Triangle as construction work on the light rail and bridge infrastructure continues through the month.