Australian Interest Rates - Reserve Bank of Australia

The Australian Reserve Bank Cash Rate.

The Australian cash rate is the overnight money market interest rate.

It is used as the interest rate on unsecured overnight loans between banks.

Home Loan Interest rates are often affected by any changes in this rate, but not always.

Last updated/checked 18 July 2024.

7th November 2023 RBA Decision.

At its meeting on 7 November 2023, the Board decided to increase the cash rate target by 25 basis points to 4.35 per cent, effective 8th November 2023.

6th June 2023 RBA Decision.

At its meeting on 6 July 2023, the Board decided to increase the cash rate target by 25 basis points to 4.10 per cent, effective 7th July 2023.

2nd May 2023 RBA Decision.

At its meeting on 2 May 2023, the Board decided to increase the cash rate target by 25 basis points to 3.85 per cent, effective 3 May 2023.

2nd March 2023 RBA Decision.

At its meeting on 7 March 2023, the Board decided to increase the cash rate target by 25 basis points to 3.60 per cent, effective 8 March 2023.

2nd February 2023 RBA Decision.

At its meeting on 7 February 2023, the Board decided to increase the cash rate target by 25 basis points to 3.35 per cent, effective 8 February 2023.

6th December 2022 RBA Decision.

At its meeting on 6th December 2022, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent, effective 7th December 2022.

1st November 2022 RBA Decision.

At its meeting on 1 November 2022, the Board decided to increase the cash rate target by 25 basis points to 2.85 per cent, effective 2 November 2022.

5th October 2022 RBA Decision.

At its meeting on 5 October 2022, the Board decided to increase the cash rate target by 25 basis points to 2.60 per cent, effective 6 October 2022.

7th September 2022 RBA Decision.

At its meeting on 7 September 2022, the Board decided to increase the cash rate target by 50 basis points to 2.35 per cent, effective 8 September 2022.

3rd August 2022 RBA Decision.

At its meeting on 3 August 2022, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent, effective 4 August 2022.

5th July 2022 RBA Decision.

At its meeting on 5 July 2022, the Board decided to increase the cash rate target by 50 basis points to 1.35 per cent, effective 6th July 2022.

7th June 2022 RBA Decision.

At its meeting on 7 June 2022, the Board decided to increase the cash rate target by 50 basis points to 0.85 per cent, effective 8th June 2022.

3rd May 2022 RBA Decision.

At its meeting on 3 May 2022, the Board decided to increase the cash rate target by 25 basis points to 0.35 per cent, effective 4th May 2022.

3rd November 2020 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 15 basis points to 0.10 per cent, effective 4th November 2020. rba.gov.au/media-releases

19th March 2020 RBA Decision.

At a special meeting today, the Board decided to lower the cash rate by 25 basis points to 0.25 per cent, effective 19th March 2020.

This is in response to the COVID-19 coronavirus.

3rd March 2020 RBA Decision.
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.50 per cent, effective 4th March 2020.

The Australian major banks; Westpac, Commonwealth Bank, National Australia Bank and ANZ Bank immediately reduced their mortgage rates by the full 0.25% drop.

It was the first time the major banks had responded to an RBA rate cut by passing it on in full since February 2015.

1st October 2019 RBA Decision.
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent, effective 2 October 2019.

2nd July 2019 RBA Decision.
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent.

The next Reserve Bank Board Meeting to decide the Reserve Bank Cash Rate is on Tuesday 6th August 2019.

4th June 2019 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.25 per cent.

The next Reserve Bank Board Meeting to decide the Reserve Bank Cash Rate is on Tuesday 2nd July 2019.

3rd October 2017 RBA Decision.

The Reserve Bank of Australia has again left the Official cash rate unchanged at 1.5% at its October Board meeting

The next Reserve Bank Board Meeting to decide the Reserve Bank Cash Rate is on Tuesday 7th November 2017.

2 August 2016 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.50 per cent, effective 3 August 2016.

4th May 2016 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.75 per cent, effective 5 May 2016.

5th May 2015 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.00 per cent, effective 6 May 2015.

3rd February 2015 RBA Decision.

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.25 per cent, effective 4 February 2015.

History of RBA Cash Rate Changes

0.10% November 2020
0.25% 19th March 2020
0.50% 3rd March 2020
0.75% October 2019
1.00% July 2019
1.25% June 2019
1.50% August 2016
1.75% May 2016
2.00% May 2015
2.25% February 2015
2.50% August 2013
2.75% July 2013
2.75% June 2013
2.75% May 2013
3.00% April 2013
3.00% March 2013
3.00% February 2013
3.00% December 2012
3.25% November 2012
3.25% October 2012
3.50% September 2012
3.50% August 2012
3.50% July 2012
3.50% June 2012
3.75% May 2012
4.25% April 2012
4.25% March 2012
4.25% February 2012
4.25% December 2011
4.50% November 2011
4.75% October 2011
4.75% September 2011
4.75% August 2011
4.75% July 2011
4.75% June 2011
4.75% November 2010
4.50% October 2010
4.50% September 2010
4.50% August 2010
4.50% July 2010
4.50% June 2010
4.50% May 2010
4.25% April 2010
4.00% March 2010
3.75% February 2010
3.75% January 2010
3.75% December 2009
3.50% November 2009

Australian Interest Rates – Reserve Bank of Australia