Reserve Bank of Australia interest rate decisions explained — what each change means for households.
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…
Updated 7 May 2026: This article has been updated with the official RBA decision delivered on 5 May 2026. The original article was published as a preview on 20 April 2026 and projected a rate cut based on market pricing at that time. The actual outcome was a third consecutive rate hike. The Reserve Bank…
Current Cash Rate Status — May 2026: The RBA raised the cash rate by 25 basis points to 4.35% on 5 May 2026 — the third consecutive hike this year. The vote was 8-1. All of 2025’s rate cuts have now been fully reversed. The next RBA meeting is 15–16 June 2026. Westpac is the…
Updated 7 May 2026: This article was originally published on 2 April 2026 following the March 2026 rate hike to 4.10 per cent. The RBA has since raised the cash rate a third time — to 4.35 per cent on 5 May 2026, by an 8-1 vote. The sections below have been updated to reflect…