This page is used as a reference for RBA Monetary Policy Decisions. The RBA sets the cash rate on the first Tuesday of every month, with the exception of January. Those rate increases are passed onto borrowers via a rate increase due to the increased cost of funds. The current cash rate is 4.35%.
Learn more about Inflation and the Cash Rate, Inflation, and the Consumer Price Index (CPI) in our FAQ module.
Monetary Policy FAQs
Following are some frequently asked questions listed in our ‘RBA & Monetary Policy’ category. More information can be found from time-to-time on our blog.
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Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation). [ Learn More ]
Monetary policy involves using interest rates to influence aggregate demand, employment and inflation in the economy. It is one of the main economic policies used to stabilise business cycles. The Reserve Bank is responsible for monetary policy in Australia .. [ Learn More ]
The Reserve Bank of Australia (RBA) is the central bank of Australia and is responsible for conducting monetary policy, issuing currency, and promoting the stability of the financial system in the country. [ Learn More ]
Latest Monetary Policy Decisions
Listed below are the latest RBA policy statements. You may review a historical archive of RBA Policy Statements in our Resources module.
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Number:2022-41Date:6 December 2022.At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-36Date:1 November 2022.At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.85 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-33Date:4 October 2022.At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.60 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-28Date:6 September 2022.At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 2.35 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-21Date:2 August 2022.At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-20Date:5 July 2022.At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.35 per cent. It also increased the interest rate on… [ Full Statement ]
Number:2022-14Date:7 June 2022.At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on… [ Full Statement ]
Number:2022-12Date:3 May 2022.At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 35 basis points. It also increased the interest rate on… [ Full Statement ]
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Note: RBA Statements are sourced from the Reserve Bank of Australia. The official archive should be referenced for the most accurate information, and to source RBA media contacts.
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