View a succinct summary of the most recent monetary policy decisions from the Reserve Bank of Australia’s Board, including decisions on the cash rate, a comprehensive summary and analysis of the RBA’s justification, as well as market impacts.
- 07 Mar 2023 RBA Update - March 2023
At its meeting today, the Reserve Bank of Australia (RBA) decided to lift its interest rates by 25 basis points, increasing the cash rate target to 3.60%, and the interest rate on Exchange Settlement balances to 3.50%. The decision was in line with the market expectations. A separate dataset shows that the RBA’s bond holdings were broadly unchanged at A$350.5b in February.
- 07 Feb 2023 RBA Update - February 2023
At its meeting today, the Reserve Bank of Australia (RBA) decided to lift its interest rates by 25 basis points, increasing the cash rate target to 3.35% and the interest rate on Exchange Settlement balances to 3.25%. The decision was in line with the market expectations. The post-meeting statement was perceived as hawkish, with the RBA hinting further interest rate increases.
- 06 Dec 2022 RBA Update - December 2022
At its meeting today, the Reserve Bank of Australia decided to lift its interest rates by 25 basis points, increasing the cash rate target to 3.10% and the interest rate on Exchange Settlement balances to 3.00%. The decision was in line with the market expectations. We anticipate another 25bps increase at the next meeting in February 2023.
- 01 Nov 2022 RBA Update - November 2022
At its meeting today, the Reserve Bank of Australia (RBA) decided to lift its interest rates by 25 basis points, increasing the cash rate target to 2.85% and the interest rate on Exchange Settlement balances to 2.75%. The RBA has increased the cash rate by 275bps so far in this tightening cycle, which is same as in the entire 1994 tightening cycle in terms of magnitude and pace.
- 04 Oct 2022 RBA Update - October 2022
At its meeting today, the Reserve Bank of Australia (RBA) decided to lift its interest rates by 25 basis points, increasing (i) the cash rate target to 2.60% and (ii) the interest rate on Exchange Settlement balances to 2.50%. The interest rate hike was less decisive than the 50bps expected by the markets.
- 06 Sep 2022 RBA Update - September 2022
At its meeting today, the RBA decided to lift its interest rates by 50bps, increasing (i) the cash rate target to 2.35%, and (ii) the interest rate on Exchange Settlement balances to 2.25%. The decision was in line with market expectations.