RBA Meeting Schedule 2026

The Reserve Bank of Australia meets eight times per year to decide the official cash rate. Every meeting runs across two days, with the decision announced at 2:30pm AEST on the second day, followed by a media conference with the Governor at 3:30pm. Meeting minutes are published two weeks after each decision.

Here is the complete official RBA meeting schedule for 2026, sourced directly from the Reserve Bank of Australia.

All 8 RBA Meeting Dates for 2026

Source: RBA — 2026 Monetary Policy Board Meeting Dates

The Statement on Monetary Policy (SMP) is published four times per year — in February, May, August, and November — alongside the rate decision. The SMP contains the RBA’s detailed forecasts for inflation, growth, and employment, and is closely watched by economists and financial markets.

What Is the RBA Cash Rate Right Now?

The current official cash rate is 4.10%, set on 17 March 2026. This followed two consecutive 25 basis point increases in February and March 2026. There was no meeting in April.

The next decision is 5 May 2026 at 2:30pm AEST.

For the full story on what drove the February and March hikes and what the May decision is likely to bring, see our RBA interest rates 2026 full timeline.

What Happens at Each Meeting?

Each Monetary Policy Board meeting follows a consistent format:

• The Board meets over two consecutive days
• On day one, RBA staff present economic analysis, data, and policy recommendations
• On day two, the Board deliberates and votes on the cash rate decision
• The outcome is announced via a media release at 2:30pm on the second day
• The Governor holds a press conference at 3:30pm the same day
• Meeting minutes are published two weeks later

Decisions are made by majority vote. The March 2026 decision — a hike to 4.10% — was passed 5 votes to 4, illustrating that decisions are not always unanimous and that genuine disagreement within the Board is possible.

What Drives Each Decision?

The Board assesses several key data points before every meeting:

Inflation — The RBA targets trimmed mean inflation between 2 and 3 per cent over the medium term. When inflation runs above target, the Board tilts toward hiking. Trimmed mean inflation was running at 3.4% annually at the time of the March decision. The March quarter CPI data — releasing 29 April 2026 — will be critical for the May decision.

Labour market — Unemployment, job creation, and wage growth all feed into the Board’s assessment of capacity pressures. A tight labour market with strong wage growth adds inflationary pressure. Unemployment was 4.3% as at the March 2026 data.

GDP growth — Economic activity data helps the Board judge whether the economy is running above or below its potential. Strong growth above trend increases the risk of inflation embedding. See our Australia GDP growth guide for the latest figures.

Global conditions — Exchange rates, oil prices, and the policy decisions of other central banks all influence the RBA’s thinking. The Middle East conflict’s impact on fuel prices was explicitly cited in the March 2026 decision.

Credit and housing — Mortgage growth, property prices, and household debt levels inform the Board’s view on whether monetary policy is working as intended.

What Is the Statement on Monetary Policy?

The Statement on Monetary Policy (SMP) is published four times per year alongside the February, May, August and November rate decisions. It is the RBA’s most detailed public document and contains:

• Updated forecasts for inflation, GDP growth, and unemployment
• The Board’s assessment of the global and domestic economy
• Analysis of key risks to the outlook
• Explanation of the policy reasoning behind recent decisions

The February 2026 SMP upgraded the RBA’s near-term inflation forecasts significantly, with trimmed mean inflation now expected to remain above the 2–3% target band until mid-2028. The May 2026 SMP will be watched closely for any revision to these forecasts following the March quarter CPI data.

How Each Decision Affects Your Mortgage

When the RBA changes the cash rate, variable mortgage rates typically move by the same amount. All four major banks passed on both the February and March 2026 hikes in full within days of each decision.

On a $600,000 variable rate mortgage, each 0.25% increase adds approximately $80–$90 per month to repayments. The two hikes in 2026 so far have added around $165–$180 per month combined.

Fixed rates are priced by banks based on bond market expectations for the future cash rate — not the current cash rate. Fixed rates can therefore move before or after an RBA decision, depending on what markets are pricing in.

For the full breakdown of how rising rates translate into repayments across different loan sizes, see our RBA cash rate and mortgage repayments guide.

Key Dates to Watch Alongside the RBA Schedule

Several economic data releases fall close to RBA meetings and heavily influence each decision:

FAQ — RBA Meeting Schedule 2026

This page is updated after each RBA decision. Dates are sourced from the official RBA Board Meeting Schedules. Last updated: 20 April 2026.

This article is for general informational purposes only and does not constitute financial advice. Always consult a registered financial adviser for advice specific to your situation.