Aussies hoping that interest rates had peaked have received some unwelcome news this morning.

The latest economic growth figures came in stronger than expected, increasing the pressure on the RBA ahead of its September meeting.

The Australian Bureau of Statistics (ABS) reported that GDP rose 0.4% in the June quarter and 2.1% over the year.

Economists had expected quarterly growth of 0.3% and annual growth of 1.8%, while the RBA had forecast annual growth of 1.9%.

According to The Australian, there’s a 60% chance of a 25-basis-point rate hike this month. That’s up from 52% before the GDP figures were released today.

So, could borrowers be facing another rate hike this month?

Let’s dive right in.

GDP comes in ahead of forecasts

While the economy is growing at a steady pace, today’s numbers were above the RBA’s forecasts.

Household consumption increased 0.4% during the quarter and contributed 0.2 points to GDP growth. Discretionary spending rose 1.4%, although the ABS said almost half of that increase came from vehicle purchases.

Private investment was flat, while GDP per capita was unchanged during the quarter and rose 0.7% over the year.

Productivity was also weak, with GDP per hour worked flat in the June quarter and down 0.2% over the year.

And that gives the RBA another reason to keep a rate hike on the table, particularly with trimmed mean inflation still running at 3.6%.

Rate hike bets are climbing

The RBA left the cash rate unchanged at 4.35% in August after raising rates 3 times earlier in 2026.

At the time, it said inflation remained too high and warned there was still a risk it could stay elevated for longer.

It seems that the GDP result has given markets another reason to think the August pause may not last long.

Capital Economics head of APAC, Marcel Thieliant, told The Australian that “the bank will probably hike rates again before long, perhaps as soon as this month”.

The bond market also reacted, with Australia’s 3-year government bond yield rising to around 4.82% as traders increased their bets on another rate hike.

What happens next?

The next RBA decision is due on 29 September, which means there is still more data to come before the board meets again.

By then, the RBA should have a read on whether inflation and demand are easing enough to keep rates unchanged.

Nonetheless, all eyes will now be on what the RBA does at the end of the month.

The post Could the RBA really hike interest rates again this month? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Rio Tinto Ltd (ASX: RIO), Fortescue Ltd (ASX: FMG) and BHP Group Ltd (ASX: BHP) shares put in mixed performances in August.

Two of the S&P/ASX 200 Index (ASX: XJO) mining giants charged ahead of the 1.1% gains posted by the benchmark index in August, while one finished in the red.

Looking at the miners’ top two revenue earners, the iron ore price dipped around 2% in August to close the month at US$96 per tonne. But the copper price increased by 3.7% to end the month at US$14,294 per tonne, according to data from Bloomberg.

August also saw all two of the miners release their full-year results.

Here’s what’s been happening.

BHP shares lead the charge

The best performing of the big three ASX 200 mining stocks in the month just past is also the biggest of them all.

BHP shares closed on 31 August trading for $66.23 each, up 9.8% for the month.

BHP released its full year FY 2026 results on 18 August.

Highlights from the 12 months included 15% year-on-year increase in revenue to US$58.8 billion. Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) leapt 27% to US$32.9 billion.

On the bottom line, the miner reported a 30% increase in underlying profit to US$13.2 billion.

That saw management boost the final FY 2026 dividend to $1.392 per share, up 51.5% from last year’s final dividend payout.

If you want to bank the boosted BHP dividend, you’ll need to own shares at market close today. The ASX 200 miner trades ex-dividend on Thursday. You can then expect to see that passive income hit your bank account on 23 September.

BHP shares closed up 2.7% on the day of the results release.

Rio Tinto shares trade ex-dividend

Like BHP shares, Rio Tinto shares outperformed in August, closing the month at $174.81 apiece, up 2.5%.

We should also note that Rio Tinto stock traded ex-dividend on 13 August. Investors who held the ASX 200 mining stock on 12 August will receive the $3.029 fully franked interim dividend on 24 September. If we add that back into the 31 August closing price, then the cumulative value of Rio Tinto shares gained 4.3% over the month.

Rio Tinto reported its half year results on 29 July. There was no fresh price sensitive news out from the company in August.

Fortescue shares take a tumble

Unlike Rio Tinto and BHP shares, Fortescue shares lost ground in August, closing the month trading for $17.70 apiece, down 4.4%.

Fortescue reported its FY 2026 results on 20 August.

On the positive side of the ledger, the miner reported revenue of US$17 billion, up 9% year-on-year. And underlying net profit after tax (NPAT) was up 3% to US$3.5 billion.

However, statutory NPAT of US$2.9 billion was down 15%. That was primarily due to the US$525 million non-cash impairment charge relating to Iron Bridge, and a US$73 million compensation claim expense.

On the passive income front, Fortescue declared a fully franked final dividend of 46 cents per share, down 23.3% from last year’s final payout. The stock traded ex-dividend yesterday.

Fortescue shares closed down 0.6% on the day of the results release.

The post Here’s how Fortescue, Rio Tinto and BHP shares stacked up in August appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Commonwealth Bank of Australia (ASX: CBA) shares have slumped further into the red in Wednesday lunchtime trade.

At the time of writing, the ASX bank stock is down around 1% for the day, and trading at $158.22 a piece.

The shares have now fallen around 12% over the past month, and are down roughly 2% for the year-to-date.

Why are CBA shares falling?

August was a rough month for ASX bank shares, with sharp declines reversing many gains made earlier this year.

Investor sentiment turned negative amid concerns about falling mortgage demand, a weakening housing market, and tight competition squeezing margins.

Later in the month, inflation data also came in much higher than expected, and sent the market into a frenzy. The update has prompted several major banks to revise their interest rate forecast to another hike as early as September.

The bank posted its FY26 results in mid-August, which also contributed to the falling share price.

CBA posted a 7% increase in cash NPAT and an 8% increase in statutory NPAT. Operating income also increased by 6.2%. The bank announced a $ 2.70-per-share fully-franked final dividend and a fully-franked full-year dividend of $5.05, up 20 cents.

The bank said it is the first time it has reported growth at or above system in each of its five core domestic product categories: home lending, business lending, consumer finance, household deposits, and business deposits.

But going forward, CBA flagged a cautious outlook, with softer household spending and slower economic growth.

The result was positive overall, but it raised concerns about the bank’s earnings strength and its already-high valuation against a backdrop of a weakening housing market.

I think the latest update, and other market fundamentals suggest that the CBA share price rally is finally over, and that we will make corrections over coming months.

JHer’s what the experts think.

What do brokers tip for the ASX bank stock now?

CBA shares may have fallen sharply over the month, but according to the experts there could be a lot more downside ahead.

Market Index data shows brokers still have a strong sell rating on the shares. The $125.10 average target price implies the shares could fall another 21% over the next 12 months, at the time of writing.

On TradingView data, the majority (14 out of 16) have a sell/strong sell rating on CBA. The average $127.86 target price implies a potential 20% downside, and the minimum $90 suggests the shares could fall another 43%, at the time of writing.

Damien Nguyen from Morgans has a sell rating on CBA shares and thinks the bank could continue to underperform the benchmark in the months ahead.

Remo Greco from Sanlam Private Wealth also has a sell recommendation on the shares and also believes CommBank could be in for some growing headwinds.

The post Down 12% in a month: Is the rally finally over for CBA shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.