The Reserve Bank of Australia raised its cash rate by 25bps to 4.1% at its March 2026 meeting, following a hike in February, in line with market expectations. In a split decision, the move was driven by a broad set of data pointing to renewed inflationary pressures in H2 of 2025. While some of the pickup is seen as temporary, the board noted modest labour market tightening and stronger capacity constraints than previously assessed. Elevated uncertainty around the Middle East conflict could add to global and domestic inflation risks. Against this backdrop, the RBA expects inflation to remain above target for some time, with risks skewed to the upside, including through expectations, warranting the latest increase. Policymakers stressed a data-dependent approach, monitoring global and financial conditions, domestic demand, and labour trends. They emphasized that policy remains flexible and positioned to respond as needed, with a continued focus on price stability and full employment. source: Reserve Bank of Australia

The benchmark interest rate in Australia was last recorded at 4.10 percent. Interest Rate in Australia averaged 3.87 percent from 1990 until 2026, reaching an all time high of 17.50 percent in January of 1990 and a record low of 0.10 percent in November of 2020. This page provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

The benchmark interest rate in Australia was last recorded at 4.10 percent. Interest Rate in Australia is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Interest Rate is projected to trend around 4.10 percent in 2027 and 3.60 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-09 03:30 AM RBA Interest Rate Decision 3.6% 3.6% 3.6% 3.6%
2026-02-03 03:30 AM RBA Interest Rate Decision 3.85% 3.6% 3.85% 3.85%
2026-03-17 03:30 AM RBA Interest Rate Decision 4.1% 3.85% 4.1% 4.1%
2026-05-05 04:30 AM RBA Interest Rate Decision 4.1% 4.35%
2026-05-06 01:30 AM RBA Chart Pack
2026-06-04 12:00 AM RBA Payments System Board Meeting


Related Last Previous Unit Reference
Central Bank Balance Sheet 374369.00 365585.00 AUD Million Mar 2026
Deposit Interest Rate 2.85 2.85 percent Feb 2026
Foreign Exchange Reserves 105800.00 104725.00 AUD Million Feb 2026
Interbank Rate 3.83 3.60 percent Feb 2026
RBA Interest Rate 4.10 3.85 percent Mar 2026
Private Sector Credit YoY 7.70 7.70 percent Jan 2026
Loans to Private Sector 1355.27 1354.81 AUD Billion Jan 2026
Money Supply M0 321.93 315.00 AUD Billion Jan 2026
Money Supply M1 1961.69 1952.98 AUD Billion Jan 2026
Money Supply M3 3366.27 3348.40 AUD Billion Jan 2026


Australia Interest Rate
In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.
Actual Previous Highest Lowest Dates Unit Frequency
4.10 3.85 17.50 0.10 1990 - 2026 percent Daily

News Stream
RBA Lifts Rates for Second Month Amid Inflation Pressures
The Reserve Bank of Australia raised its cash rate by 25bps to 4.1% at its March 2026 meeting, following a hike in February, in line with market expectations. In a split decision, the move was driven by a broad set of data pointing to renewed inflationary pressures in H2 of 2025. While some of the pickup is seen as temporary, the board noted modest labour market tightening and stronger capacity constraints than previously assessed. Elevated uncertainty around the Middle East conflict could add to global and domestic inflation risks. Against this backdrop, the RBA expects inflation to remain above target for some time, with risks skewed to the upside, including through expectations, warranting the latest increase. Policymakers stressed a data-dependent approach, monitoring global and financial conditions, domestic demand, and labour trends. They emphasized that policy remains flexible and positioned to respond as needed, with a continued focus on price stability and full employment.
2026-03-17
RBA Keeps Door Open for Immediate Policy Tightening
Reserve Bank of Australia Governor Michele Bullock said Tuesday that an interest rate hike remains possible as early as this month if inflation expectations become unanchored. Speaking at a business conference, she stressed that the board would not necessarily wait for the full first-quarter inflation data, due in late April, before making a decision. “Every meeting is live,” Bullock said, referring to the March 17 board meeting, adding that policymakers would assess whether they need to move more quickly. Markets have largely assumed the central bank would hold off until the first-quarter CPI report on April 29 and potentially act at the May 5 meeting. Bullock, however, said she wanted to “dissuade” markets from relying on that assumption, signaling flexibility and a readiness to tighten policy sooner if needed.
2026-03-03
RBA Leans Hawkish Amid Persistent Inflation: February Minutes
Australia’s inflation picked up in H2 2025 and was “too high,” according to the Reserve Bank’s February meeting minutes. While much of the rise in underlying inflation was seen as temporary, members judged some of it reflected persistent pressures. As a result, the central inflation forecast was revised materially higher, with inflation projected to stay above target through 2026 and only return close to the midpoint around mid-2028, assuming the cash rate follows the market path. Model estimates suggested spare capacity had narrowed, with aggregate demand exceeding supply and the labour market staying a bit tight. Solid output growth, resilient global conditions, and still-elevated unit labour costs reinforced capacity pressures. Members also worried that financial conditions were no longer restrictive enough. Overall, they agreed there was a stronger case to raise the cash rate by 25bps, as inflation risks had increased and downside risks to full employment had eased.
2026-02-17