Interest rate decision · Australia
Australia RBA Interest Rate Decision
The Australia RBA Interest Rate Decision is the Reserve Bank of Australia's announcement of its main policy rate, the cash rate target. It is the price of money in Australia: banks' borrowing costs, mortgage and loan rates and the return on cash all move with it.
- Importance
- High
- Released
- About every six weeks
- Next release
- Currency
- AUD · Australian dollar
- Central bank
- The Reserve Bank of Australia
Latest figures
The latest release, published on 29 September 2026, came in at 4.6%, in line with the consensus of 4.6%, up from 4.35% the time before.
A result in line with the consensus usually causes little reaction: it was already priced in.
Over the last 12 releases it ranged from 3.6% to 4.6%, averaging 4.0%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 29 Sep 2026 | – | 4.6% | 4.6% | 4.35% |
| 11 Aug 2026 | – | 4.35% | 4.35% | 4.35% |
| 16 Jun 2026 | – | 4.35% | 4.35% | 4.35% |
| 5 May 2026 | – | 4.35% | 4.35% | 4.1% |
| 17 Mar 2026 | – | 4.1% | 4.1% | 3.85% |
| 3 Feb 2026 | – | 3.85% | 3.85% | 3.6% |
| 9 Dec 2025 | – | 3.6% | 3.6% | 3.6% |
| 4 Nov 2025 | – | 3.6% | 3.6% | 3.6% |
| 30 Sep 2025 | – | 3.6% | 3.6% | 3.6% |
| 12 Aug 2025 | – | 3.6% | 3.60% | 3.85% |
| 8 Jul 2025 | – | 3.85% | 3.60% | 3.85% |
| 20 May 2025 | – | 3.85% | 3.85% | 4.1% |
Why it matters
No release moves markets more directly. The rate decides what holding the Australian dollar pays, so the currency, government bond yields, bank shares and the whole stock market react within seconds. Markets usually price the decision in advance, so the surprise, and the tone of the statement and press conference, matter as much as the number: a hold with a hawkish message can lift the currency more than an expected hike.
How it is calculated
There is nothing to calculate: the rate is set by a vote of the central bank's policy committee at scheduled meetings. The committee weighs inflation against its target, the labour market, growth and financial conditions. Most decisions move in steps of 0.25 percentage point; 0.50 or more signals urgency.
Taylor rule (a rough guide many economists use):
rate ≈ neutral rate + inflation + 0.5 × (inflation − target) + 0.5 × output gapWhat changes mean
- Compare the decision with the consensus: a surprise move is rare and causes the largest reactions.
- Read the statement for changes in wording; "further tightening may be needed" versus "policy is appropriate" is what traders act on.
- Look at the vote split: dissents in one direction often foreshadow the next move.
- A hike or hawkish hold usually lifts the Australian dollar and bond yields; a cut or dovish tone does the opposite. Stocks usually prefer lower rates unless the cut signals a weakening economy.
Higher than expected: A higher rate than expected (or a hawkish surprise) usually lifts the Australian dollar and bond yields and weighs on stocks.
Lower than expected: A lower rate than expected usually weakens the Australian dollar, lowers bond yields and supports stocks.
A short history
Central banks have set lending rates since the Bank of England raised its Bank Rate in the 18th and 19th centuries to defend its gold reserves. Since New Zealand adopted formal inflation targeting in 1990, most central banks set rates to keep inflation near a target, usually 2%.
Questions
What is the Australia RBA Interest Rate Decision?
The Australia RBA Interest Rate Decision is the Reserve Bank of Australia's announcement of its main policy rate, the cash rate target. It is the price of money in Australia: banks' borrowing costs, mortgage and loan rates and the return on cash all move with it.
What was the latest Australia RBA Interest Rate Decision?
4.6%, published on 29 September 2026 (consensus 4.6%, previous 4.35%).
When is the next Australia RBA Interest Rate Decision?
On Tuesday 3 November 2026 at 03:30 UTC.
When is the Australia RBA Interest Rate Decision announced?
On the dates of the Reserve Bank of Australia's scheduled policy meetings, published a year in advance; the calendar above shows the next one.
Why do markets move before the decision?
Interest-rate futures and swaps price the expected decision days ahead; on the day, only the difference from those expectations moves prices.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.