Interest rates · updated 7 Oct 2026

RBA cash rate history 1990–2026

The cash rate is 4.60%, set on 30 September 2026. The record low was 0.10% on 4 November 2020. Since then it has raised rates 17 times and cut them 3 times.

Cash rate since 1990

RBA meeting dates

The RBA Board meets eight times a year. Decisions are announced at 2:30pm Sydney time on the second day of the two-day meeting.

2026 meetings (scheduled)

3 February 2026
17 March 2026
5 May 2026
16 June 2026
11 August 2026
29 September 2026
3 November 2026
8 December 2026

2027 meetings (assumed)

The RBA has not yet published its 2027 calendar. These dates follow its eight-meeting pattern and are provisional.

2 February 2027
16 March 2027
4 May 2027
15 June 2027
10 August 2027
28 September 2027
2 November 2027
7 December 2027

Source: RBA Board Meeting Schedule

Every decision, by year

2026

Effective	Change	Rate
4 Feb 2026	+0.25%	3.85%
18 Mar 2026	+0.25%	4.10%
6 May 2026	+0.25%	4.35%
17 June 2026	Hold	4.35%
12 Aug 2026	Hold	4.35%
30 Sept 2026	+0.25%	4.60%

2025

Effective	Change	Rate
19 Feb 2025	-0.25%	4.10%
2 Apr 2025	Hold	4.10%
21 May 2025	-0.25%	3.85%
9 July 2025	Hold	3.85%
13 Aug 2025	-0.25%	3.60%
1 Oct 2025	Hold	3.60%
5 Nov 2025	Hold	3.60%
10 Dec 2025	Hold	3.60%

2024

Effective	Change	Rate
7 Feb 2024	Hold	4.35%
20 Mar 2024	Hold	4.35%
8 May 2024	Hold	4.35%
19 June 2024	Hold	4.35%
7 Aug 2024	Hold	4.35%
25 Sept 2024	Hold	4.35%
6 Nov 2024	Hold	4.35%
11 Dec 2024	Hold	4.35%

2023

Effective	Change	Rate
8 Feb 2023	+0.25%	3.35%
8 Mar 2023	+0.25%	3.60%
5 Apr 2023	Hold	3.60%
3 May 2023	+0.25%	3.85%
7 June 2023	+0.25%	4.10%
5 July 2023	Hold	4.10%
2 Aug 2023	Hold	4.10%
6 Sept 2023	Hold	4.10%
4 Oct 2023	Hold	4.10%
8 Nov 2023	+0.25%	4.35%
6 Dec 2023	Hold	4.35%

2022

Effective	Change	Rate
2 Feb 2022	Hold	0.10%
2 Mar 2022	Hold	0.10%
6 Apr 2022	Hold	0.10%
4 May 2022	+0.25%	0.35%
8 June 2022	+0.50%	0.85%
6 July 2022	+0.50%	1.35%
3 Aug 2022	+0.50%	1.85%
7 Sept 2022	+0.50%	2.35%
5 Oct 2022	+0.25%	2.60%
2 Nov 2022	+0.25%	2.85%
7 Dec 2022	+0.25%	3.10%

2021

Effective	Change	Rate
3 Feb 2021	Hold	0.10%
3 Mar 2021	Hold	0.10%
7 Apr 2021	Hold	0.10%
5 May 2021	Hold	0.10%
2 June 2021	Hold	0.10%
7 July 2021	Hold	0.10%
4 Aug 2021	Hold	0.10%
8 Sept 2021	Hold	0.10%
6 Oct 2021	Hold	0.10%
3 Nov 2021	Hold	0.10%
8 Dec 2021	Hold	0.10%

2020

Effective	Change	Rate
5 Feb 2020	Hold	0.75%
4 Mar 2020	-0.25%	0.50%
20 Mar 2020	-0.25%	0.25%
8 Apr 2020	Hold	0.25%
6 May 2020	Hold	0.25%
3 June 2020	Hold	0.25%
8 July 2020	Hold	0.25%
5 Aug 2020	Hold	0.25%
2 Sept 2020	Hold	0.25%
7 Oct 2020	Hold	0.25%
4 Nov 2020	-0.15%	0.10%
2 Dec 2020	Hold	0.10%

2019

Effective	Change	Rate
6 Feb 2019	Hold	1.50%
6 Mar 2019	Hold	1.50%
3 Apr 2019	Hold	1.50%
8 May 2019	Hold	1.50%
5 June 2019	-0.25%	1.25%
3 July 2019	-0.25%	1.00%
7 Aug 2019	Hold	1.00%
4 Sept 2019	Hold	1.00%
2 Oct 2019	-0.25%	0.75%
6 Nov 2019	Hold	0.75%
4 Dec 2019	Hold	0.75%

2018

Effective	Change	Rate
7 Feb 2018	Hold	1.50%
7 Mar 2018	Hold	1.50%
4 Apr 2018	Hold	1.50%
2 May 2018	Hold	1.50%
6 June 2018	Hold	1.50%
4 July 2018	Hold	1.50%
8 Aug 2018	Hold	1.50%
5 Sept 2018	Hold	1.50%
3 Oct 2018	Hold	1.50%
7 Nov 2018	Hold	1.50%
5 Dec 2018	Hold	1.50%

2017

Effective	Change	Rate
8 Feb 2017	Hold	1.50%
8 Mar 2017	Hold	1.50%
5 Apr 2017	Hold	1.50%
3 May 2017	Hold	1.50%
7 June 2017	Hold	1.50%
5 July 2017	Hold	1.50%
2 Aug 2017	Hold	1.50%
6 Sept 2017	Hold	1.50%
4 Oct 2017	Hold	1.50%
8 Nov 2017	Hold	1.50%
6 Dec 2017	Hold	1.50%

2016

Effective	Change	Rate
3 Feb 2016	Hold	2.00%
2 Mar 2016	Hold	2.00%
6 Apr 2016	Hold	2.00%
4 May 2016	-0.25%	1.75%
8 June 2016	Hold	1.75%
6 July 2016	Hold	1.75%
3 Aug 2016	-0.25%	1.50%
7 Sept 2016	Hold	1.50%
5 Oct 2016	Hold	1.50%
2 Nov 2016	Hold	1.50%
7 Dec 2016	Hold	1.50%

2015

Effective	Change	Rate
4 Feb 2015	-0.25%	2.25%
4 Mar 2015	Hold	2.25%
8 Apr 2015	Hold	2.25%
6 May 2015	-0.25%	2.00%
3 June 2015	Hold	2.00%
8 July 2015	Hold	2.00%
5 Aug 2015	Hold	2.00%
2 Sept 2015	Hold	2.00%
7 Oct 2015	Hold	2.00%
4 Nov 2015	Hold	2.00%
2 Dec 2015	Hold	2.00%

2014

Effective	Change	Rate
5 Feb 2014	Hold	2.50%
5 Mar 2014	Hold	2.50%
2 Apr 2014	Hold	2.50%
7 May 2014	Hold	2.50%
4 June 2014	Hold	2.50%
2 July 2014	Hold	2.50%
6 Aug 2014	Hold	2.50%
3 Sept 2014	Hold	2.50%
8 Oct 2014	Hold	2.50%
5 Nov 2014	Hold	2.50%
3 Dec 2014	Hold	2.50%

2013

Effective	Change	Rate
6 Feb 2013	Hold	3.00%
6 Mar 2013	Hold	3.00%
3 Apr 2013	Hold	3.00%
8 May 2013	-0.25%	2.75%
5 June 2013	Hold	2.75%
3 July 2013	Hold	2.75%
7 Aug 2013	-0.25%	2.50%
4 Sept 2013	Hold	2.50%
2 Oct 2013	Hold	2.50%
6 Nov 2013	Hold	2.50%
4 Dec 2013	Hold	2.50%

2012

Effective	Change	Rate
8 Feb 2012	Hold	4.25%
7 Mar 2012	Hold	4.25%
4 Apr 2012	Hold	4.25%
2 May 2012	-0.50%	3.75%
6 June 2012	-0.25%	3.50%
4 July 2012	Hold	3.50%
8 Aug 2012	Hold	3.50%
5 Sept 2012	Hold	3.50%
3 Oct 2012	-0.25%	3.25%
7 Nov 2012	Hold	3.25%
5 Dec 2012	-0.25%	3.00%

2011

Effective	Change	Rate
2 Feb 2011	Hold	4.75%
2 Mar 2011	Hold	4.75%
6 Apr 2011	Hold	4.75%
4 May 2011	Hold	4.75%
8 June 2011	Hold	4.75%
6 July 2011	Hold	4.75%
3 Aug 2011	Hold	4.75%
7 Sept 2011	Hold	4.75%
5 Oct 2011	Hold	4.75%
2 Nov 2011	-0.25%	4.50%
7 Dec 2011	-0.25%	4.25%

2010

Effective	Change	Rate
3 Feb 2010	Hold	3.75%
3 Mar 2010	+0.25%	4.00%
7 Apr 2010	+0.25%	4.25%
5 May 2010	+0.25%	4.50%
2 June 2010	Hold	4.50%
7 July 2010	Hold	4.50%
4 Aug 2010	Hold	4.50%
8 Sept 2010	Hold	4.50%
6 Oct 2010	Hold	4.50%
3 Nov 2010	+0.25%	4.75%
8 Dec 2010	Hold	4.75%

2009

Effective	Change	Rate
4 Feb 2009	-1.00%	3.25%
4 Mar 2009	Hold	3.25%
8 Apr 2009	-0.25%	3.00%
6 May 2009	Hold	3.00%
3 June 2009	Hold	3.00%
8 July 2009	Hold	3.00%
5 Aug 2009	Hold	3.00%
2 Sept 2009	Hold	3.00%
7 Oct 2009	+0.25%	3.25%
4 Nov 2009	+0.25%	3.50%
2 Dec 2009	+0.25%	3.75%

2008

Effective	Change	Rate
6 Feb 2008	+0.25%	7.00%
5 Mar 2008	+0.25%	7.25%
2 Apr 2008	Hold	7.25%
7 May 2008	Hold	7.25%
4 June 2008	Hold	7.25%
2 July 2008	Hold	7.25%
6 Aug 2008	Hold	7.25%
3 Sept 2008	-0.25%	7.00%
8 Oct 2008	-1.00%	6.00%
5 Nov 2008	-0.75%	5.25%
3 Dec 2008	-1.00%	4.25%

2007

Effective	Change	Rate
7 Feb 2007	Hold	6.25%
7 Mar 2007	Hold	6.25%
4 Apr 2007	Hold	6.25%
2 May 2007	Hold	6.25%
6 June 2007	Hold	6.25%
4 July 2007	Hold	6.25%
8 Aug 2007	+0.25%	6.50%
5 Sept 2007	Hold	6.50%
3 Oct 2007	Hold	6.50%
7 Nov 2007	+0.25%	6.75%
5 Dec 2007	Hold	6.75%

2006

Effective	Change	Rate
8 Feb 2006	Hold	5.50%
8 Mar 2006	Hold	5.50%
5 Apr 2006	Hold	5.50%
3 May 2006	+0.25%	5.75%
7 June 2006	Hold	5.75%
5 July 2006	Hold	5.75%
2 Aug 2006	+0.25%	6.00%
6 Sept 2006	Hold	6.00%
4 Oct 2006	Hold	6.00%
8 Nov 2006	+0.25%	6.25%
6 Dec 2006	Hold	6.25%

2005

Effective	Change	Rate
2 Feb 2005	Hold	5.25%
2 Mar 2005	+0.25%	5.50%
6 Apr 2005	Hold	5.50%
4 May 2005	Hold	5.50%
8 June 2005	Hold	5.50%
6 July 2005	Hold	5.50%
3 Aug 2005	Hold	5.50%
7 Sept 2005	Hold	5.50%
5 Oct 2005	Hold	5.50%
2 Nov 2005	Hold	5.50%
7 Dec 2005	Hold	5.50%

2004

Effective	Change	Rate
4 Feb 2004	Hold	5.25%
3 Mar 2004	Hold	5.25%
7 Apr 2004	Hold	5.25%
5 May 2004	Hold	5.25%
2 June 2004	Hold	5.25%
7 July 2004	Hold	5.25%
4 Aug 2004	Hold	5.25%
8 Sept 2004	Hold	5.25%
6 Oct 2004	Hold	5.25%
3 Nov 2004	Hold	5.25%
8 Dec 2004	Hold	5.25%

2003

Effective	Change	Rate
5 Feb 2003	Hold	4.75%
5 Mar 2003	Hold	4.75%
2 Apr 2003	Hold	4.75%
7 May 2003	Hold	4.75%
4 June 2003	Hold	4.75%
2 July 2003	Hold	4.75%
6 Aug 2003	Hold	4.75%
3 Sept 2003	Hold	4.75%
8 Oct 2003	Hold	4.75%
5 Nov 2003	+0.25%	5.00%
3 Dec 2003	+0.25%	5.25%

2002

Effective	Change	Rate
6 Feb 2002	Hold	4.25%
6 Mar 2002	Hold	4.25%
3 Apr 2002	Hold	4.25%
8 May 2002	+0.25%	4.50%
5 June 2002	+0.25%	4.75%
3 July 2002	Hold	4.75%
7 Aug 2002	Hold	4.75%
4 Sept 2002	Hold	4.75%
2 Oct 2002	Hold	4.75%
6 Nov 2002	Hold	4.75%
4 Dec 2002	Hold	4.75%

2001

Effective	Change	Rate
7 Feb 2001	-0.50%	5.75%
7 Mar 2001	-0.25%	5.50%
4 Apr 2001	-0.50%	5.00%
2 May 2001	Hold	5.00%
6 June 2001	Hold	5.00%
4 July 2001	Hold	5.00%
8 Aug 2001	Hold	5.00%
5 Sept 2001	-0.25%	4.75%
3 Oct 2001	-0.25%	4.50%
7 Nov 2001	Hold	4.50%
5 Dec 2001	-0.25%	4.25%

2000

Effective	Change	Rate
2 Feb 2000	+0.50%	5.50%
8 Mar 2000	Hold	5.50%
5 Apr 2000	+0.25%	5.75%
3 May 2000	+0.25%	6.00%
7 June 2000	Hold	6.00%
5 July 2000	Hold	6.00%
2 Aug 2000	+0.25%	6.25%
6 Sept 2000	Hold	6.25%
4 Oct 2000	Hold	6.25%
8 Nov 2000	Hold	6.25%
6 Dec 2000	Hold	6.25%

1999

Effective	Change	Rate
3 Feb 1999	Hold	4.75%
3 Mar 1999	Hold	4.75%
7 Apr 1999	Hold	4.75%
5 May 1999	Hold	4.75%
2 June 1999	Hold	4.75%
7 July 1999	Hold	4.75%
4 Aug 1999	Hold	4.75%
8 Sept 1999	Hold	4.75%
6 Oct 1999	Hold	4.75%
3 Nov 1999	+0.25%	5.00%
8 Dec 1999	Hold	5.00%

1998

Effective	Change	Rate
4 Feb 1998	Hold	5.00%
4 Mar 1998	Hold	5.00%
8 Apr 1998	Hold	5.00%
6 May 1998	Hold	5.00%
3 June 1998	Hold	5.00%
8 July 1998	Hold	5.00%
5 Aug 1998	Hold	5.00%
2 Sept 1998	Hold	5.00%
7 Oct 1998	Hold	5.00%
4 Nov 1998	Hold	5.00%
2 Dec 1998	-0.25%	4.75%

1997

Effective	Change	Rate
5 Feb 1997	Hold	6.00%
5 Mar 1997	Hold	6.00%
2 Apr 1997	Hold	6.00%
7 May 1997	Hold	6.00%
23 May 1997	-0.50%	5.50%
4 June 1997	Hold	5.50%
2 July 1997	Hold	5.50%
30 July 1997	-0.50%	5.00%
6 Aug 1997	Hold	5.00%
3 Sept 1997	Hold	5.00%
8 Oct 1997	Hold	5.00%
5 Nov 1997	Hold	5.00%
3 Dec 1997	Hold	5.00%

1996

Effective	Change	Rate
7 Feb 1996	Hold	7.50%
6 Mar 1996	Hold	7.50%
3 Apr 1996	Hold	7.50%
8 May 1996	Hold	7.50%
5 June 1996	Hold	7.50%
3 July 1996	Hold	7.50%
31 July 1996	-0.50%	7.00%
4 Sept 1996	Hold	7.00%
2 Oct 1996	Hold	7.00%
6 Nov 1996	-0.50%	6.50%
11 Dec 1996	-0.50%	6.00%

1995

Effective	Change	Rate
8 Feb 1995	Hold	7.50%
8 Mar 1995	Hold	7.50%
5 Apr 1995	Hold	7.50%
3 May 1995	Hold	7.50%
7 June 1995	Hold	7.50%
5 July 1995	Hold	7.50%
26 July 1995	Hold	7.50%
6 Sept 1995	Hold	7.50%
4 Oct 1995	Hold	7.50%
8 Nov 1995	Hold	7.50%
6 Dec 1995	Hold	7.50%

1994

Effective	Change	Rate
2 Feb 1994	Hold	4.75%
2 Mar 1994	Hold	4.75%
30 Mar 1994	Hold	4.75%
4 May 1994	Hold	4.75%
8 June 1994	Hold	4.75%
6 July 1994	Hold	4.75%
27 July 1994	Hold	4.75%
17 Aug 1994	+0.75%	5.50%
7 Sept 1994	Hold	5.50%
24 Oct 1994	+1.00%	6.50%
2 Nov 1994	Hold	6.50%
14 Dec 1994	+1.00%	7.50%

1993

Effective	Change	Rate
3 Feb 1993	Hold	5.75%
23 Mar 1993	-0.50%	5.25%
7 Apr 1993	Hold	5.25%
5 May 1993	Hold	5.25%
2 June 1993	Hold	5.25%
7 July 1993	Hold	5.25%
30 July 1993	-0.50%	4.75%
8 Sept 1993	Hold	4.75%
6 Oct 1993	Hold	4.75%
3 Nov 1993	Hold	4.75%
8 Dec 1993	Hold	4.75%

1992

Effective	Change	Rate
8 Jan 1992	-1.00%	7.50%
5 Feb 1992	Hold	7.50%
4 Mar 1992	Hold	7.50%
8 Apr 1992	Hold	7.50%
6 May 1992	-1.00%	6.50%
3 June 1992	Hold	6.50%
8 July 1992	-0.75%	5.75%
29 July 1992	Hold	5.75%
2 Sept 1992	Hold	5.75%
7 Oct 1992	Hold	5.75%
4 Nov 1992	Hold	5.75%
2 Dec 1992	Hold	5.75%

1991

Effective	Change	Rate
6 Feb 1991	Hold	12.00%
6 Mar 1991	Hold	12.00%
4 Apr 1991	-0.50%	11.50%
16 May 1991	-1.00%	10.50%
14 June 1991	Hold	10.50%
3 July 1991	Hold	10.50%
31 July 1991	Hold	10.50%
3 Sept 1991	-1.00%	9.50%
2 Oct 1991	Hold	9.50%
6 Nov 1991	-1.00%	8.50%
4 Dec 1991	Hold	8.50%

1990

Effective	Change	Rate
23 Jan 1990	—	17.00%
15 Feb 1990	-0.50%	16.50%
7 Mar 1990	Hold	16.50%
4 Apr 1990	—	15.00%
2 May 1990	Hold	15.00%
6 June 1990	Hold	15.00%
4 July 1990	Hold	15.00%
2 Aug 1990	-1.00%	14.00%
5 Sept 1990	Hold	14.00%
15 Oct 1990	-1.00%	13.00%
7 Nov 1990	Hold	13.00%
18 Dec 1990	-1.00%	12.00%

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Frequently asked questions

What is the RBA cash rate now?

The cash rate is 4.60%, set on 30 September 2026.

What was the highest RBA cash rate since 1990?

17.00% to 17.50% (the RBA then published a target range), on 23 January 1990, when the RBA's history begins.

What was the lowest RBA cash rate?

0.10%, on 4 November 2020.

When is the next RBA meeting?

3 November 2026, announced at 2:30pm Sydney time.

How often does the RBA meet?

Eight times a year, typically in February, March, May, June, August, September, November and December.

How this is worked out

Cash rate: the current target rate set by the RBA Board, effective from the day after the announcement.
Highest and lowest: the maximum and minimum rates since 1 January 1990.
Rises and cuts since the record low count every change in the RBA's table from that date to today, across more than one tightening and easing cycle.
Source: RBA statistics: Cash rate

Estimate only, not financial or tax advice. See our methodology for how we gather data.

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