Australia policy interest rate
Reserve Bank of Australia cash rate target - the RBA Monetary Policy Board's operational target for the overnight unsecured interbank cash rate.
| Current value | 4.35 percent |
|---|---|
| In force from | 2026-05-06 |
| Official source | Reserve Bank of Australia, Cash Rate Target statistical table (F1.1) and Monetary Policy Board decision of 5 May 2026 (media release 2026-12, 'Statement by the Monetary Policy Board: Monetary Policy Decision', https://www.rba.gov.au/media-releases/2026/mr-26-12.html) |
| Last verified | 2026-07-20 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
The Board raised the target 25bp from 4.10% to 4.35% at its 5 May 2026 meeting (media release mr-26-12); RBA convention is that a change takes effect the business day AFTER the decision, hence effective_from 2026-05-06. The Board met again on 16 June 2026 and left the target unchanged, so 4.35% is confirmed current as at 2026-07-20. 2026 tightening sequence to date: 3.60% -> 3.85% (decision 3 Feb 2026, mr-26-03, eff. 4 Feb 2026), -> 4.10% (decision 17 Mar 2026, eff. 18 Mar 2026, a 5-4 split), -> 4.35% (decision 5 May 2026, eff. 6 May 2026), unchanged 16 Jun 2026. Since the Reserve Bank Reforms Act 2025 (Cth) commenced the decision-maker is the Monetary Policy Board (not the former single Reserve Bank Board), and votes are published: the May 2026 decision was 8-1 (eight to raise 25bp, one to hold at 4.10%). The RBA does not set the cash rate by legal instrument - it is an operational target implemented through open market operations and the Exchange Settlement Account remuneration corridor (ES balances remunerated at the target). ACCESS QUIRK: rba.gov.au returns HTTP 403 to automated fetchers; this value was read from the official page and media release via a plain-text rendering proxy (r.jina.ai) of the same URLs and via search-engine surfacing of rba.gov.au content, not from a third-party aggregator. Next scheduled decision: 11 August 2026.
Earlier values
| From | Value | Source |
|---|---|---|
| 2018-01-02 | 1.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-06-05 | 1.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-07-03 | 1 | Bank for International Settlements - Central Bank Policy Rat |
| 2019-10-02 | 0.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-04 | 0.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-20 | 0.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-11-04 | 0.1 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-05-04 | 0.35 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-06-08 | 0.85 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-07-06 | 1.35 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-08-03 | 1.85 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-09-07 | 2.35 | Bank for International Settlements - Central Bank Policy Rat |
Get it programmatically
curl https://ausref.dev/v1/au/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://ausref.dev/v1/au/policy-rate/history?from=2020-01-01
# Provenance: curl https://ausref.dev/provenance/au/policy-rateOther Australia series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates