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AUD · SydneyThe next monetary policy meeting of the Reserve Bank of Australia (RBA) will take place on Tuesday 3 November 2026. Its cash rate stands at 4.60%, at this level since 30 September 2026.
The Reserve Bank of Australia sets the cash rate and targets inflation of 2 to 3%. Since the 2024 reform, a dedicated committee decides eight times a year and publishes its vote count.
Updated on · sources: the central bank, the BIS and the national statistics office
Last move
↑ Hike
le 30 September 2026
Annual inflation
4.0%
Target: 2 to 3% on average over the cycle (CPI) · 2026-08
Next decision
3 November
in 11 days
The AUD is a currency tied to commodities and China: its reaction to the RBA also depends on risk appetite. Below, the rate the market expects after each meeting, and the probabilities of a hike, a hold or a cut, derived from today's OIS swaps.
How the projections are calculated is for members only
This tool is included in full access and in the terminal-only plan. The other tools on this page remain free to view.
Decision dates published by the bank. For two-day meetings, the date shown is the announcement day.
All eight banks on a single calendar: central bank calendar.
Five years of decisions: each step in the chart is a rate change. Source: Bank for International Settlements.
| Effective date | Cash rate | Change |
|---|---|---|
| 8 October 2026 | 4.60 % | +25 bp |
| 13 May 2026 | 4.35 % | +25 bp |
| 23 March 2026 | 4.10 % | +25 bp |
| 11 February 2026 | 3.85 % | +25 bp |
| 13 August 2025 | 3.60 % | −25 bp |
| 26 May 2025 | 3.85 % | −25 bp |
| 21 February 2025 | 4.10 % | −25 bp |
| 13 November 2023 | 4.35 % | +25 bp |
| 7 June 2023 | 4.10 % | +25 bp |
| 9 May 2023 | 3.85 % | +25 bp |
| 16 March 2023 | 3.60 % | +25 bp |
| 15 February 2023 | 3.35 % | +25 bp |
| 13 December 2022 | 3.10 % | +25 bp |
| 3 November 2022 | 2.85 % | +25 bp |
| 5 October 2022 | 2.60 % | +25 bp |
| 14 September 2022 | 2.35 % | +50 bp |
| 5 August 2022 | 1.85 % | +50 bp |
| 7 July 2022 | 1.35 % | +50 bp |
| 17 June 2022 | 0.85 % | +50 bp |
| 9 May 2022 | 0.35 % | +25 bp |
Monetary Policy Board
9 voters · 8 meetings a year · Sydney
The governor, her deputy, the Treasury secretary and six external members, one vote each. The make-up doesn't rotate from year to year.
Count published, without names
Since the 2024 reform, the vote count is published, without naming voters. You know whether the committee was split, not who dissented.
