RBA Rate Changes

  • December 2022

    December 6, 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.

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  • November 2022

    November 1, 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. Looking ahead, the interest rates are set to be increased further, with the size and timing still being data dependent.

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  • October 2022

    October 4, 2021

    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.

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  • September 2022

    September 6, 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.

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  • August 2022

    August 2, 2022

    At its meeting today, the RBA Board decided to lift its interest rates by 50 basis points, increasing (i) the cash rate target to 1.85% and (ii) the interest rate on Exchange Settlement balances to 1.75%. The decision to deliver a third consecutive 50bps hike was in line with market expectations.

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  • July 2022

    July 5, 2020

    At its meeting today, the RBA decided to lift its interest rates by 50 basis points, increasing the cash rate to 1.35% and the interest rate on Exchange Settlement balances to 1.25%. The decision was in line with the market expectations.

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