RBA cash rate tracker
The cash rate is 4.60% from 30 September 2026. Below: what a move does to your repayment, the stress test lenders apply, and every decision since the rises began in May 2022.
Every decision since May 2022
The cash rate sat at 0.10% before the cycle began. Since then the Board has raised it 17 times, cut it 3 times and held it at 21 meetings, from the RBA’s cash rate page (checked 11 October 2026). After peaking at 4.35% through 2024, it was cut three times in 2025, then raised four times in 2026, from 3.60% to 4.60%. The latest statement is dated 29 September 2026. The next decision is due on 3 November 2026 (RBA meeting schedule).
| Effective | Change | Cash rate |
|---|---|---|
| 30 Sept 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 June 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 Sept 2022 | +0.50 | 2.35% |
| 3 Aug 2022 | +0.50 | 1.85% |
| 6 July 2022 | +0.50 | 1.35% |
| 8 June 2022 | +0.50 | 0.85% |
| 4 May 2022 | +0.25 | 0.35% |
Changes only; the 21 meetings where the Board held are left out. Percentage points.
What the calculator follows
Your repayment is worked as principal and interest on the balance and years left, at your rate and then at your rate plus the change. The stress test adds 3 percentage points, the serviceability buffer APRA has kept at that level (APRA, 28 May 2026). Moneysmart suggests the same exercise on your own budget, working out your costs if interest rates went up by 3%. The calculator assumes your lender passes a move on in full, which is a choice each lender makes, and that nothing else about the loan changes. It doesn’t predict the next decision.
If a rise makes the repayment hard to meet, the time to act is before you miss one. Moneysmart explains how to ask for a hardship variation, and a lender must reply within 21 days. A cheaper rate elsewhere is the other lever: our refinance calculator shows when a switch pays back its costs. This page is general information, not advice.
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RBA cash rate questions
What is the RBA cash rate now?
4.60%, effective 30 September 2026, after the Reserve Bank's Monetary Policy Board raised it by 25 basis points. It is the rate the RBA targets for overnight loans between banks, and lenders' variable home loan rates tend to follow it, though each lender decides how much of a move to pass on and when.
When is the next RBA decision?
The Board's next meeting ends on 3 November 2026, with the decision announced that afternoon and effective the next day. The RBA publishes the full schedule a year ahead.
Does my rate move by the same amount as the cash rate?
Not necessarily. Lenders set their own variable rates, and while most have passed recent moves on in full, they choose the timing and the amount. A fixed rate doesn't move until the fixed term ends. Check your lender's notice rather than assuming.
What is the 3% buffer?
APRA expects banks to check that you could still afford the loan if its rate were 3 percentage points higher than the one you'll pay. It's a test at approval, not a forecast, and Moneysmart suggests running the same check on your own budget.
What if I can't afford the higher repayment?
Talk to your lender early. You can ask for a hardship variation, which can change the loan's terms or pause or reduce repayments for a time, and the lender must reply within 21 days. If it refuses, you can complain to the Australian Financial Complaints Authority. The National Debt Helpline is free on 1800 007 007.