RBA Cash Rate Tracker
The current cash rate, the RBA's recent decisions, and what it actually means for your home loan repayments.
Current cash rate target
4.35%
Data as at 7 August 2026. This is a snapshot, not a live feed, always confirm the current rate at rba.gov.au before relying on it.
Recent decisions
| Effective date | Decision | New rate |
|---|---|---|
| Held | 4.35% | |
| Increase (25bp) | 4.35% | |
| Increase (25bp) | 4.1% | |
| Increase (25bp) | 3.85% | |
| Decrease (25bp) | 3.6% | |
| Decrease (25bp) | 3.85% | |
| Decrease (25bp) | 4.1% |
What a rate change actually does to your mortgage
If you're on a variable rate, a 25 basis point (0.25 percentage point) rise or fall usually moves your rate by roughly the same amount, once your lender passes it on. On a $600,000 loan over 30 years, a 0.25 percentage point change shifts your monthly repayment by somewhere around $90-$100, more on a bigger loan, less on a smaller one, and the exact figure depends on your remaining balance and term. Rather than approximate it, plug your own numbers into the mortgage repayment calculator below with the rate before and after a change to see the exact difference.
How the RBA actually sets the cash rate
The RBA's Monetary Policy Board meets eight times a year to review economic data, mainly inflation, employment and wage growth, and decide whether to raise, cut or hold the cash rate target. The decision and accompanying statement are released at 2:30pm AEST on the day of the meeting, along with the reasoning behind it. Banks then decide independently whether and when to pass any change on to their own variable home loan rates, they aren't obligated to move at all, though competitive pressure usually means most do within a few weeks.
Frequently asked questions
What is the RBA cash rate?
It's the interest rate the Reserve Bank of Australia sets for overnight loans between banks. It doesn't directly set your mortgage rate, but banks use it as the key input when they price variable home loans, so a change in the cash rate usually flows through to variable rate borrowers within a few weeks.
How often does the RBA decide on the cash rate?
The RBA's Monetary Policy Board meets eight times a year (roughly every six weeks), a reduced schedule from the eleven meetings a year it used before 2024.
Does a cash rate change apply to my loan straight away?
If you're on a variable rate, your lender decides when and whether to pass on the change, they aren't legally required to move in lockstep with the RBA, though most do within a couple of weeks of a decision. If you're on a fixed rate, nothing changes until your fixed term ends.
Why does the RBA raise or cut the cash rate?
Mainly to manage inflation. Raising the cash rate makes borrowing more expensive, which tends to slow spending and cool inflation. Cutting it makes borrowing cheaper, which tends to encourage spending, used when the RBA wants to support a slowing economy.
Where can I check the current rate myself?
The RBA publishes the cash rate target directly at rba.gov.au/statistics/cash-rate, that's the authoritative source, this page is a convenient summary but can lag the official announcement by a few days.
Sources and disclaimer
Rate history compiled from RBA media releases and cross-referenced news reporting, since rba.gov.au blocks automated data collection. This is a periodically updated snapshot, not a live data feed, and may lag the official RBA announcement by a few days after a decision. Always confirm the current rate at rba.gov.au before making a financial decision. This page is general information only, not financial advice.