Downpours, high winds and thunder are on the way to the ACT and surrounding areas, according to the Bureau of Meteorology.
It's forecasting "moderate to possibly heavy rainfall", with the chance of flooding of the Queanbeyan and Molonglo rivers.
The Bureau had a "severe weather warning" for Canberra and the region around.
The wet weather had already started but was expected to worsen on Thursday before easing over the weekend.
Up to 100mm of rain is predicted to fall in the Canberra region on Thursday, with the chance of a thunderstorm and heavy rainfalls possible.
On high ground, the warmer temperatures which promote rain mean less chance of snow.
But forecaster Morgan Pumpa said there was a risk of high winds and wet roads so motorists needed to be extra careful.
"We could have some severe weather coming so keep an eye on the forecasts," she said. "Know your weather; know your risk," as she put it.
The Bureau warned that on the higher ground that "cold temperatures, rain and showers and northwesterly winds are expected during Wednesday and Thursday".
Graziers were warned that "there is a risk of losses of lambs and sheep exposed to these conditions".
Despite the recent - and ongoing - wet period, this year isn't particularly wet compared with other years.
Daily rainfall at Canberra airport for July, for example, was an average of 17 millimetres. Last year, it was 54 millimetres and the year before (when the drought broke), it was 33.4. In 2019, it was 5 millimetres.
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