RBACR · rate
RBA Cash Rate
The official cash rate target set by the Reserve Bank of Australia's Monetary Policy Board.
Policy rateSingle sourceStatus
RBA Cash Rate Target chart
Official decision observations; each level remains in force until the next decision.407 observations, simplified for display.History from Jan 23, 1990.
Official decision series
How to use this rate
The chart is the official policy-rate decision series. It is not a retail lending offer or a market forecast. The RBA cash rate is the Australian monetary-policy reference.
Latest MarketsGrid observation: Oct 15, 2026.
Australia market context
Key statistics
Previous close
4.60%
52-week range
3.60% – 4.60%
Year to date
+100 bps
1-year change
+100 bps
All-time high
17.50%
All-time low
0.10%
5-year change
+450 bps
10-year change
+310 bps
1-year range width
+100 bps
Largest peak-to-trough move
−1740 bps
Historical percentile
47th
Best / worst year
2022 +300 bps / 1991 −350 bps
RBA Cash Rate decision history
Last change: +25 bps to 4.60%, effective Sep 30, 2026. 97 changes on record; dates are when the new rate took effect, which can be a day or more after the announcement.
| Effective date | Decision | Change | New rate |
|---|---|---|---|
| Sep 30, 2026 | Hike | +25 bps | 4.35% → 4.60% |
| May 6, 2026 | Hike | +25 bps | 4.10% → 4.35% |
| Mar 18, 2026 | Hike | +25 bps | 3.85% → 4.10% |
| Feb 4, 2026 | Hike | +25 bps | 3.60% → 3.85% |
| Aug 13, 2025 | Cut | −25 bps | 3.85% → 3.60% |
| May 21, 2025 | Cut | −25 bps | 4.10% → 3.85% |
| Feb 19, 2025 | Cut | −25 bps | 4.35% → 4.10% |
| Nov 8, 2023 | Hike | +25 bps | 4.10% → 4.35% |
| Jun 7, 2023 | Hike | +25 bps | 3.85% → 4.10% |
| May 3, 2023 | Hike | +25 bps | 3.60% → 3.85% |
| Mar 8, 2023 | Hike | +25 bps | 3.35% → 3.60% |
| Feb 8, 2023 | Hike | +25 bps | 3.10% → 3.35% |
| Dec 7, 2022 | Hike | +25 bps | 2.85% → 3.10% |
| Nov 2, 2022 | Hike | +25 bps | 2.60% → 2.85% |
| Oct 5, 2022 | Hike | +25 bps | 2.35% → 2.60% |
| Sep 7, 2022 | Hike | +50 bps | 1.85% → 2.35% |
| Aug 3, 2022 | Hike | +50 bps | 1.35% → 1.85% |
| Jul 6, 2022 | Hike | +50 bps | 0.85% → 1.35% |
| Jun 8, 2022 | Hike | +50 bps | 0.35% → 0.85% |
| May 4, 2022 | Hike | +25 bps | 0.10% → 0.35% |
| Nov 4, 2020 | Cut | −15 bps | 0.25% → 0.10% |
| Mar 20, 2020 | Cut | −25 bps | 0.50% → 0.25% |
| Mar 4, 2020 | Cut | −25 bps | 0.75% → 0.50% |
| Oct 2, 2019 | Cut | −25 bps | 1.00% → 0.75% |
Next Monetary Policy Board decision
Nov 3, 2026
In 19 days, announced at 2:30 p.m. AEST/AEDT
Then: Dec 8, 2026 · Feb 9, 2027 · Mar 23, 2027 · May 4, 2027 · Jun 22, 2027
Scheduled dates from the Reserve Bank of Australia calendar; meetings can be rescheduled or added.
Performance
| Period | From | Start | Change |
|---|---|---|---|
| 1 day | Oct 15, 2026 | 4.60% | 0.00% |
| 1 week | Oct 5, 2026 | 4.60% | 0.00% |
| 1 month | Aug 12, 2026 | 4.35% | +0.25% |
| 3 months | Jun 17, 2026 | 4.35% | +0.25% |
| 6 months | Mar 18, 2026 | 4.10% | +0.50% |
| Year to date | Dec 10, 2025 | 3.60% | +1.00% |
| 1 year | Oct 1, 2025 | 3.60% | +1.00% |
| 3 years | Oct 4, 2023 | 4.10% | +0.50% |
| 5 years | Oct 6, 2021 | 0.10% | +4.50% |
| 10 years | Oct 5, 2016 | 1.50% | +3.10% |
| 20 years | Oct 4, 2006 | 6.00% | −1.40% |
| All history | Jan 23, 1990 | 17.50% | −12.90% |
Calendar years
| Year | Start | End | Change |
|---|---|---|---|
| 2026YTD | 3.60% | 4.60% | +100 bps |
| 2025 | 4.35% | 3.60% | −75 bps |
| 2024 | 4.35% | 4.35% | 0 bps |
| 2023 | 3.10% | 4.35% | +125 bps |
| 2022 | 0.10% | 3.10% | +300 bps |
| 2021 | 0.10% | 0.10% | 0 bps |
| 2020 | 0.75% | 0.10% | −65 bps |
| 2019 | 1.50% | 0.75% | −75 bps |
| 2018 | 1.50% | 1.50% | 0 bps |
| 2017 | 1.50% | 1.50% | 0 bps |
| 2016 | 2.00% | 1.50% | −50 bps |
| 2015 | 2.50% | 2.00% | −50 bps |
| 2014 | 2.50% | 2.50% | 0 bps |
| 2013 | 3.00% | 2.50% | −50 bps |
| 2012 | 4.25% | 3.00% | −125 bps |
Where this data comes from
| Source | Data type | Coverage |
|---|---|---|
| Reserve Bank of Australia — Cash Rate TargetofficialReserve Bank of Australia cash rate target | Policy ratedaily | Jan 23, 1990 – Oct 15, 2026407 observations |
Price history is stored as published for reproducibility. The current quote is refreshed every 15 seconds from the live feed and labelled with its sources and observation time.
Current quote
- Type: Policy rate
- Consensus: Single source from one source
- Primary source: Reserve Bank of Australia — Cash Rate Target
- Observed: Oct 15, 2026
History
From Jan 23, 1990. 407 daily points.
Attribution
- Source: Reserve Bank of Australia 2026
About this series
The cash rate target is the Reserve Bank of Australia's main monetary-policy setting. It influences variable mortgage rates, savings rates, business borrowing costs and the Australian dollar, but retail rates do not move one-for-one with it.
A decision is published at 2:30 pm Sydney time after each Monetary Policy Board meeting. Any target change normally takes effect the following day. MarketsGrid reads the official RBA decision table and labels the effective date.
How the cash rate connects to gold and the Australian dollar
Higher Australian rates can support the AUD when other factors are unchanged, while a stronger AUD reduces the local-currency price of USD-denominated gold. Inflation expectations, global risk and US rates can outweigh that relationship, so MarketsGrid shows RBA, CPI, AUD/USD and gold in AUD as separate evidence rather than implying a forecast.
Frequently asked
- Is the RBA cash rate a mortgage rate?
- No. It is the target for the overnight cash market. Banks use it as an important funding benchmark, but each lender sets its own mortgage and deposit rates.