RBA Cash Rate Tracker
The current RBA cash rate is 3.10%, effective 2026-02-18. See the history of RBA decisions, the next Board meeting, and calculate what a rate change means for your mortgage.
Last verified: 5 May 2026What is the current RBA cash rate and what does a change mean for my mortgage?
The Reserve Bank of Australia cash rate target is 3.10%, effective 2026-02-18. The next RBA Board meeting is 2026-05-06 — the decision is announced at 2:30pm AEST on day two. Variable-rate home loans usually move with the cash rate; fixed loans don't change until the fixed term ends. As a rule of thumb, a 0.25% (25 bps) change adds or removes about $90/month per $600,000 of loan (30-year term at current rates). Source: Reserve Bank of Australia.
Rate change impact on your mortgage
See what a rise or cut in the cash rate would do to your variable home loan repayments, assuming your lender passes on the full change.
RBA cash rate history
Every RBA cash rate change, most recent first. Source: Reserve Bank of Australia.
| Effective date | Cash rate | Change |
|---|---|---|
| 18 February 2026 | 3.10% | -0.25% |
| 5 November 2025 | 3.35% | -0.25% |
| 13 August 2025 | 3.60% | -0.25% |
| 21 May 2025 | 3.85% | -0.25% |
| 19 February 2025 | 4.10% | -0.25% |
| 8 November 2023 | 4.35% | +0.25% |
| 7 June 2023 | 4.10% | +0.25% |
| 3 May 2023 | 3.85% | +0.25% |
| 8 March 2023 | 3.60% | +0.25% |
| 8 February 2023 | 3.35% | +0.25% |
| 7 December 2022 | 3.10% | +0.25% |
| 2 November 2022 | 2.85% | +0.25% |
| 5 October 2022 | 2.60% | +0.25% |
| 7 September 2022 | 2.35% | +0.50% |
| 3 August 2022 | 1.85% | +0.50% |
| 6 July 2022 | 1.35% | +0.50% |
| 8 June 2022 | 0.85% | +0.50% |
| 4 May 2022 | 0.35% | +0.25% |
| 4 November 2020 | 0.10% | -0.15% |
What is the RBA cash rate? The cash rate target is the interest rate the Reserve Bank of Australia sets for overnight unsecured loans between banks. It's the base that flows through to mortgage rates, deposit rates, and business lending.
Who sets it? The RBA Board meets eight times a year (since 2024). Each meeting runs over two days, with the decision announced at 2:30pm AEST on day two, followed by a statement from the Governor.
Does my bank pass it on? Usually, but not always in full and not always immediately. Lenders can also move variable rates outside of RBA decisions based on their funding costs. Fixed-rate loans are locked in until the fixed term ends.
General information and estimates only — not financial, tax, or legal advice. Always verify with a licensed adviser or the ATO.
Related reading
How RBA cash rate changes in 2026 affect your mortgage repayments. Includes repayment impact per $100K borrowed, fixed vs variable analysis, and how to stress-test your mortgage.
RBA Rate Rise March 2026: How Much Your Mortgage Repayments Just Went UpThe RBA hiked the cash rate to 4.10% on March 17, 2026 — the second consecutive increase. Here's exactly how much more you'll pay on a $400K, $500K, $600K, $750K, and $1M mortgage, when banks pass it on, and what to do next.
Best Savings Account Rates March 2026: Where to Park Your Cash at 4.10%With the RBA cash rate at 4.10%, savings account rates are competitive again. We cover the best high-interest savings accounts (up to 5.50%), term deposits, and offset accounts — plus how much $50K, $100K, and $200K earns per year at each rate tier.
Interest Rate History Australia: Every RBA Move from 2020 to 2026Complete timeline of every RBA cash rate decision from the COVID emergency cuts to 0.10% through the 2022-23 hiking cycle, the 2024-25 easing, and the surprise 2026 hikes to 4.10%. A full table of every move with context on what drove each decision.