RBA Interest Rate Hub — Australia 2026
As at 2 May 2026, the official RBA cash-rate table shows a 4.10% cash rate target, with the next Monetary Policy Board meeting scheduled for 4-5 May 2026.
Last updated: 2026-05-02
As at 2 May 2026, the official RBA cash-rate table shows a 4.10% cash rate target, with the next Monetary Policy Board meeting scheduled for 4-5 May 2026.
Overview
This RBA Interest Rate Hub tracks the Australian cash rate, recent Monetary Policy Board decisions and the property-market channels that matter to buyers, owners and investors. As at 2 May 2026, the RBA’s official cash-rate table shows the cash rate target at 4.10% from the effective date of 18 March 2026. The latest completed monetary policy decision was announced on 17 March 2026, when the Board increased the target by 25 basis points to 4.10%. The next scheduled Monetary Policy Board meeting is 4-5 May 2026, so this page should be refreshed immediately after the 5 May decision notice is released. The RBA says the cash rate influences mortgage and deposit rates, economic activity, employment and inflation.
Current data
The figures below are official public data points and dates. They are not forecasts and they should not be treated as lender-rate promises. Lenders can move advertised and customer rates differently from the cash rate, while the RBA decision is a target for overnight interbank money.
| Data point | Current status as at 2 May 2026 | Source |
|---|---|---|
| Current cash rate target | 4.10% effective 18 March 2026 | |
| Latest completed decision | +25 basis points on 17 March 2026 | |
| Previous cash rate target | 3.85% effective 4 February 2026 | |
| Next scheduled RBA meeting | 4-5 May 2026 | |
| Decision release timing | 2.30 pm Sydney time after each meeting | |
| 2026 meeting cadence | 8 Monetary Policy Board meetings | [rba_overview] |
The ASX RBA Rate Indicator can be used as a market-expectations check because it derives probabilities from ASX 30 Day Interbank Cash Rate Futures, but ASX labels the information indicative only and not investment advice.
How the cash rate works
The RBA defines the cash rate as the interest rate banks pay to borrow funds from other banks in the money market overnight. The Monetary Policy Board sets a target for that rate, and the RBA publishes the decision at 2.30 pm Sydney time after each meeting [rba_overview]. A change takes effect the following day according to the RBA cash-rate page. For property, the important point is transmission. The cash rate does not directly set your home loan contract, but it influences bank funding costs, variable mortgage rates, deposit rates, credit supply and buyer demand [rba_overview]. The RBA’s objective is to keep inflation between 2% and 3% and achieve sustained full employment.
Who it applies to
RBA interest-rate decisions apply across the whole economy, but property users feel them in different ways. Variable-rate borrowers may see repayment changes when lenders adjust rates. Fixed-rate borrowers may feel less immediate impact but face a new rate when the fixed period ends. First-home buyers may see borrowing capacity and competition change as lenders update serviceability and pricing. Investors watch rental yields, holding costs, debt deductibility assumptions and refinance windows. Developers and builders watch the cost of debt, presale demand and project feasibility. Sellers also care because cheaper or dearer credit can affect buyer depth, clearance rates and days on market. The RBA notes that cash-rate changes influence lending and deposit rates, which then influence economic activity.
Trends and outlook
The key 2026 trend is that the RBA had already lifted the cash rate twice by the time this page was updated: to 3.85% effective 4 February 2026 and to 4.10% effective 18 March 2026. The March decision was close, with 5 members voting to increase and 4 voting to leave the target at 3.85%. The Board said it would be attentive to the data and the evolving assessment of the outlook and risks. For property users, that means the correct outlook is conditional, not automatic. Watch inflation releases, labour-market data, bank funding spreads, mortgage-rate pass-through and the Board’s statement language after each meeting. Market pricing can be monitored through the ASX indicator, but it is indicative only.
Tips and mistakes
The main mistake is assuming that an RBA move will be passed through instantly, fully and uniformly to every mortgage. The RBA’s credit-market bulletin says pass-through from the cash rate to mortgage rates is an important part of transmission, but it also discusses funding costs, lending spreads and credit supply. A second mistake is using headlines from before the latest meeting after the decision has changed. Always check the official RBA cash-rate table and media release first. A third mistake is planning a purchase only around the headline cash rate. Borrowing capacity, LVR, valuation, income stability, fixed-rate expiry, insurance, body corporate costs and state taxes can all matter. Refresh this page after each scheduled 2026 meeting. For internal publishing, keep a visible update note near the top of the page so readers can tell whether they are reading before or after the latest decision and can compare lender announcements consistently.
Frequently asked questions
What is the current RBA cash rate in Australia?
As at 2 May 2026, the RBA cash-rate table shows the cash rate target at 4.10%, effective 18 March 2026. The next scheduled Monetary Policy Board meeting is 4-5 May 2026, so the figure should be checked again after that decision.
When was the last RBA interest rate decision?
The latest completed RBA monetary policy decision was announced on 17 March 2026. The Monetary Policy Board increased the cash rate target by 25 basis points to 4.10%. The RBA cash-rate table records the change as effective on 18 March 2026.
When is the next RBA meeting?
The next scheduled Monetary Policy Board meeting is 4-5 May 2026. The RBA says monetary policy decisions are published at 2.30 pm Sydney time after each meeting. Until that release appears, any May outcome remains a forecast or market expectation.
Does the cash rate set my mortgage rate?
No. The cash rate is an overnight interbank target, not your loan contract rate. However, the RBA says it strongly influences mortgage and deposit rates. Lender funding costs, competition, product type and borrower risk can affect how much gets passed through.
How do RBA rates affect property prices?
RBA transmission works through lending rates, borrowing demand, household cash flow, credit supply and asset prices. Lower lending rates can encourage households to borrow more and support demand for housing, while higher rates can work in the opposite direction through repayments and confidence.
Sources and official references
- RBA Cash Rate Target — Official RBA cash-rate target table and explanatory text provide the current target, recent changes and announcement timing.
- RBA Monetary Policy Decision — 17 March 2026 — RBA March 2026 media release states the decision, vote split and reasoning.
- RBA Board Meeting Schedules — Official RBA schedule page lists all 2026 Monetary Policy Board meeting dates.
- RBA Cash Rate Target Overview — RBA overview explains the cash rate, meeting cadence, announcement timing and monetary policy objectives.
- RBA Bulletin — Recent Changes in Credit Markets and Their Implications for Monetary Policy — RBA February 2026 bulletin discusses cash-rate transmission through credit and mortgage markets.
- RBA Explainer — The Transmission of Monetary Policy — RBA transmission explainer covers lending-rate, cash-flow and asset-price channels relevant to housing.
- ASX RBA Rate Tracker — ASX page explains the RBA Rate Indicator calculation basis and disclaimer.
Published by PropertyWiki Team · Last updated 2026-05-02
Australian English; plain-language, source-linked, no dialect or offshore spelling variants.