RBA cash rate
RBA Cash Rate Today and What It Means for Your Home Loan
The Reserve Bank of Australia (RBA) cash rate target is 4.60%. The Monetary Policy Board raised it by 0.25 percentage points on 29 September 2026, the fourth increase this year.
The next decision is due on Tuesday 3 November 2026. We update this page after every meeting.
Book a complimentary loan reviewHow a rate rise affects your repayments
As a rough guide, each 0.25 percentage point rise adds about $16 a month to repayments for every $100,000 owing on a 30-year principal and interest loan. A 1 percentage point rise adds about $66 a month per $100,000.
Estimates assume an interest rate of 6.00% p.a. before the rise. This is an illustration only, not a lender's rate. Your actual change depends on your loan, your rate and how your lender passes on the decision. Use the loan repayment calculator to check your own numbers.
What to check after a rate change
- Your rate compared with what your lender offers new customers. Ask them to reprice, or look at refinancing
- When any fixed rate ends and what it reverts to
- Whether an offset account could reduce your interest
- Your budget and buffer if rates rise again
Read our checklists: four rate rises this year: what to check and five mortgage checks before the next RBA decision. If repayments are getting harder, read mortgage stress is rising: act early and talk to your lender sooner rather than later.
RBA cash rate decisions since 2020
| Effective date | Change (percentage points) | Cash rate target |
|---|---|---|
| 30 Sep 2026 | +0.25 | 4.60% |
| 6 May 2026 | +0.25 | 4.35% |
| 18 Mar 2026 | +0.25 | 4.10% |
| 4 Feb 2026 | +0.25 | 3.85% |
| 13 Aug 2025 | −0.25 | 3.60% |
| 21 May 2025 | −0.25 | 3.85% |
| 19 Feb 2025 | −0.25 | 4.10% |
| 8 Nov 2023 | +0.25 | 4.35% |
| 7 Jun 2023 | +0.25 | 4.10% |
| 3 May 2023 | +0.25 | 3.85% |
| 8 Mar 2023 | +0.25 | 3.60% |
| 8 Feb 2023 | +0.25 | 3.35% |
| 7 Dec 2022 | +0.25 | 3.10% |
| 2 Nov 2022 | +0.25 | 2.85% |
| 5 Oct 2022 | +0.25 | 2.60% |
| 7 Sep 2022 | +0.50 | 2.35% |
| 3 Aug 2022 | +0.50 | 1.85% |
| 6 Jul 2022 | +0.50 | 1.35% |
| 8 Jun 2022 | +0.50 | 0.85% |
| 4 May 2022 | +0.25 | 0.35% |
| 4 Nov 2020 | −0.15 | 0.10% |
| 20 Mar 2020 | −0.25 | 0.25% |
| 4 Mar 2020 | −0.25 | 0.50% |
Changes only: meetings without a row were holds. Dates are when the new rate took effect, the day after the decision. Source: Reserve Bank of Australia.
Upcoming RBA decisions
- Tuesday 3 November 2026
- Tuesday 8 December 2026
The RBA's Monetary Policy Board meets eight times a year and announces its decision at 2.30 pm (AEST/AEDT) on the second day of each meeting.
Frequently asked questions
It’s the interest rate on overnight loans between banks, set by the Reserve Bank of Australia. Lenders consider it, along with their own funding costs, when setting variable home loan rates.
The next decision is due on Tuesday 3 November 2026, followed by Tuesday 8 December 2026.
No. Lenders set their own rates and timing. Most announce changes within days of a decision, but they may pass on more or less than the RBA change.
It depends on your plans and how much certainty you need. Fixing gives stable repayments but less flexibility and possible break costs. A split loan gives you some of each. Talk to us before you decide.
Worried about your repayments?
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