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.
- 05 Dec 2023 RBA Update - December 2023
The Reserve Bank of Australia Board kept interest rates unchanged today, with the cash rate target remaining at 4.35% and the interest rate on Exchange Settlement balances staying at 4.25%. The decision was in line with market expectations.
- 07 Nov 2023 RBA Update - November 2023
The RBA Board decided to raise interest rates by 25 basis points, increasing the cash rate to 4.35% and the interest rate on Exchange Settlement balances to 4.25%. The decision was in line with market expectations, with the futures market pricing in a 70% probability of a 25bps hike prior to the meeting.
- 03 Oct 2023 RBA Update - October 2023
At the first meeting chaired by Governor Michele Bullock, the Reserve Bank of Australia (RBA) Board kept interest rates on hold. The cash rate target remains at 4.10% and the interest rate on Exchange Settlement balances at 4.00%. The decision was in line with cash rate futures pricing for no change.
- 05 Sep 2023 RBA Update - September 2023
In Governor Philip Lowe’s last meeting at the helm, the Reserve Bank of Australia kept interest rates on hold. The cash rate target remains at 4.10% and the interest rate on Exchange Settlement balances at 4.00%. The decision was in line with cash rate futures pricing for no change, while only three out of 32 participants in the Bloomberg survey expected a 25bps increase.
- 01 Aug 2023 RBA Update - August 2023
At its meeting today, the Reserve Bank of Australia (RBA) decided to keep interest rates on hold. The cash rate target remains at 4.10% and the interest rate on Exchange Settlement balances at 4.00%. Cash rate futures had priced in around a 75% probability of no change. However, the majority of commercial bank economists had expected a 25bps hike.
- 04 Jul 2023 RBA Update - July 2023
At its meeting today, the Reserve Bank of Australia decided to keep interest rates on hold. The cash rate target remains at 4.10% and the interest rate on Exchange Settlement balances at 4.00%. The market analysts were split 50-50 in their expectations, with a 25bps hike less than 50% priced in.
- 06 Jun 2023 RBA Update - June 2023
At its meeting today, the Reserve Bank of Australia (RBA) decided to increase its interest rates by 25bps. After this decision, the cash rate target rose to 4.10% and the interest rate on Exchange Settlement balances rose to 4.00%. The decision was a surprise to many market participants.