RBA Cash Rate

Your destination for RBA news, expert forecasts and more

cut

1.75%

Cash rate held

at 1.75% on Tuesday 7th June 2016

The Reserve Bank of Australia (RBA) sets the official cash rate target on the first Tuesday of every month except January. Below are expert forecasts from the finder.com.au Reserve Bank Survey of some of Australia's brightest minds in economics and property. You can also read more about the RBA and get general advice about what to do in the event of a rate cut, hold or rise decision.

45% of experts in our survey believe that interest rates will fall in August 2016.

IMPORTANT: See how your lender has responded to the May 2016 rate cut

100%of our resident rate experts

have correctly forecast the rate would be held at 1.75% on Tuesday 7th June 2016

View forecasts →

Breaking news cash rate held

 
  • Announcements

    Announcements

    Read about the latest RBA announcements and find out if it's time to carry out a fresh comparison of your financial products to get the best deal.

  • FAQs

    RBA Cash Rate Explained

    The RBA meets on the first Tuesday of each month to decide on the official cash rate target - the rate offered on overnight loans to commercial banks. They can decide to keep the rate the same, raise it, or decrease it.

    Find out how this rate can affect the interest rate you're charged/receive on a loan, credit card or savings account.

  • RBA Forecasts

    RBA Forecasts

    The finder.com.au Reserve Bank Survey is a monthly survey which asks some of Australia's most authoritative financial experts what they think the RBA will decide to do each month.

    Make an informed decision when deciding to fix interest rates or lock your money into a term deposit by seeing what these experts think will happen.

What has the RBA said?

Find out what the Reserve Bank and Governor of the RBA Glenn Stevens has said about the official cash rate.

What do you think the RBA will do with the Cash Rate in June 2016?






"In reaching today's decision, the Board took careful note of developments in the housing market, where indications are that the effects of supervisory measures are strengthening lending standards and that price pressures have tended to abate. At present, the potential risks of lower interest rates in this area are less than they were a year ago.

Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting."
- Statement extracted from Reserve Bank of Australia 3/5/16

Our resident rate experts

+ Open all commentary

Find out what each of our experts predicts for next month and their detailed forecast explanations

Shane Oliver

Forecast: Down in August, 2016
+ Read Shane's full forecast

May

No change

June

No change

While I expect the RBA to cut the cash rate again this year, not enough will have happened to bring on another move by the June meeting.

Peter Munckton

Forecast: Down in November, 2016
+ Read Peter's full forecast

May

N/A

June

No change

We have had no new information to change RBA's view that 1.75% is the right rate.

Richard Robinson

Forecast: Down beyond 2016
+ Read Richard's full forecast

May

N/A

June

No change

The last cut successfully engineered a fall in the dollar, which the RBA desired. Although inflation is low, deflation is unlikely (oil prices have already risen sharply since January), and the economic growth is sufficient to prevent a marked increase in the unemployment rate. Better to leave some rate cuts for later – when they might need them.

Chris Caton

Forecast: Up beyond 2016
+ Read Chris's full forecast

May

N/A

June

No change

The Bank may cut again but it is not in a hurry.

Andrew Wilson

Forecast: Down in September, 2016
+ Read Andrew's full forecast

May

No change

June

No change

RBA to take a wait and see approach after last month’s cut with data remaining mixed. Inflation critical but bias remains solidly for another cut this year although a near-term rise in US rates may stay the RBA hand.

Scott Morgan

Forecast: N/A
+ Read Scott's full forecast

May

No change

June

No change

The RBA will wait to see the impact of the most recent cuts. There is no recent economic data that would change the RBA's view.


Mark Brimble

Forecast: Down in August, 2016
+ Read Mark's full forecast

May

No change

June

No change

While bias remains to easing, the RBA is likely to tread carefully and wait for the reaction to the previous month’s rate cut to emerge and further data in relation to confidence, inflation, lending and capital expenditure prior to easing again.


Paul Ryan Eccho Me

Mandeep Sodhi

Forecast: Down in September, 2016
+ Read Mandeep's full forecast

May

N/A

June

No change

RBA would want to wait till August 2016 to see the flow on effects from rate cut in May 2016. The July 2016 election results will also give some clear directions and would make sense to wait till August 2016. There are no compelling reasons for RBA to change the interest rate in immediate short term. This is a good time for existing homeowners to revisit the interest rate they are getting and negotiate a better rate from existing lender. Home owners do not need to wait for another rate cut in this competitive market where lenders including big 4 banks are offering home loan interest rates below 4% p.a.

Jason Spencer

Forecast: Down in November, 2016
+ Read Jason's full forecast

May

N/A

June

No change

The Australian economy is looking stronger, global issues are dissipating and the Australian dollar is falling so rates should remain on hold on June 7.


Shane Garrett

Forecast: N/A
+ Read Shane's full forecast

May

No change

June

No change

The RBA will take time to assess the consequences of its May rate cut as well as possible developments in inflation before moving on rates again.


Paul Bloxham

Forecast: Down in August, 2016
+ Read Paul's full forecast

May

No change

June

No change

They just cut last month and, in our view, will want to see the Q2 CPI print before considering a further move.


Michael Witts

Forecast: Up beyond 2016
+ Read Michael's full forecast

May

No change

June

No change

Given low inflation was the driver behind the May decision we would suggest that the RBA will look for further data on this front.

James Boyle

Forecast: Down in August, 2016
+ Read James's full forecast

May

No change

June

No change

It’s hard to ignore the downgraded inflation forecasts the Board issued earlier in the month, although I still don’t see another cut coming until at least August. This is despite jobs growth and unemployment remaining modest, but steady, and wage growth continuing to slow. The Board will no doubt be monitoring the impacts of the last rate cut on the country’s stronger property markets. Auction clearance rates in Sydney performed strongly on back-to-back weekends in May, while Melbourne is seeing listing numbers similar to the same time as last year. First home buyers and investors are returning to the market with the promise of lower interest rates – and this is improving the outlook for the sector.

At the same time Mr Stevens has expressed that there is a bit of flexibility in the RBA’s inflation target, so we’re likely to see the cash rate hold for a few months, despite inflation being low, to see if other improvements come about. Economic recovery abroad in the US and Europe is tipped to be slow and steady over the coming years and I don’t foresee Australia being any different.


Grant Harrod

Forecast: Down in August, 2016
+ Read Grant's full forecast

May

No change

June

No change

The RBA will now monitor the effect last month's rate cut has on the economy. Lending institutions continue to de-risk the housing market by raising rates to investors, and limiting borrowing by non-resident buyers. This is resulting in price growth moderating and also allows the RBA to cut rates further, later in the year, as needed.


Stephen Koukoulas

Forecast: Up beyond 2016
+ Read Stephen's full forecast

May

No change

June

No change

Economy doing reasonably well – no need for further monetary policy stimulus.

John Caelli

Forecast: Down in August, 2016
+ Read John's full forecast

May

N/A

June

No change

Having just cut, the RBA will likely hold until August to assess CPI figures before cutting again to confirm their initial assessment. The RBA continue to target inflation within a 2 to 3% band over the longer term.


Mark Crosby

Forecast: Up beyond 2016
+ Read Mark's full forecast

May

No change

June

No change

Having just cut, and with the US likely to raise there is no compelling reason to cut despite low inflation numbers.

Effie Zahos

Forecast: N/A
+ Read Effie's full forecast

May

N/A

June

No change

The next inflation report isn't due until July 27 so it could be a case of hold steady until August.


Emily Dabbs

Forecast: Down in August, 2016
+ Read Emily's full forecast

May

No change

June

No change

The central bank will likely wait to see if the May rate cut has bolstered domestic demand and put upward pressure on inflation. Further rate cuts are likely down the track.

Jessica Darnbrough

Forecast: Down in September, 2016
+ Read Jessica's full forecast

May

No change

June

No change

There are a couple of reasons why the Reserve Bank may choose to leave the official cash rate on hold this month. In the first instance, unemployment remains low, sitting at 5.7%. Secondly, consumer sentiment has improved significantly over the last month - both of which are positive signs for the broader economy.

Chris Schade

Forecast: Down in August, 2016
+ Read Chris' full forecast

May

N/A

June

N/A

There's no urgent need to deliver another cut to the Australian economy with the Australian dollar weaker, the economy going OK and May's cut requiring some time to work through the economy. It is more likely the RBA will take some time to see how the Australian economy and global conditions develop over the coming months before making any further changes to the cash rate.

Alan Oster

Forecast: Up beyond 2016
+ Read Alan's full forecast

May

No change

June

No change

Too early to judge inflation and non mining outlook.

Jonathan Chancellor

Forecast: N/A
+ Read Jonathan's full forecast

May

N/A

June

No change

The last move is enough.


Matthew Peter

Forecast: Down in August, 2016
+ Read Matthew's full forecast

May

No change

June

No change

Having cut in May, the RBA will await the next read of inflation in July before deciding whether to cut another 25 basis points.


Noel Whittaker

Forecast: N/A
+ Read Noel's full forecast

May

No change

June

No change

[The RBA are] awaiting the outcome of last cut


Angus Raine

Forecast: Down in November, 2016
+ Read Angus' full forecast

May

No change

June

No change

The RBA made a big call in dropping interest rates last month, and with the Federal Election on the horizon, I don't expect any movement this month.

Nathan McMullen

Forecast: Down in August, 2016
+ Read Nathan's full forecast

May

N/A

June

No change

Further assessment of impact of recent monetary easing required.


Saul Eslake

Forecast: Down in August, 2016
+ Read Saul's full forecast

May

No change

June

No change

They have responded to the lower-than-expected CPI, the currency has since fallen quite a lot, their other forecasts for economic growth and unemployment haven't changed, no need to lower rates again.


Janu Chan

Forecast: Down in August, 2016
+ Read Janu's full forecast

May

No change

June

No change

The RBA will choose to wait a while after the decision to cut rates at its last meeting.

Scott Pape

Forecast: N/A
Read Scott's full forecast

May

N/A

June

No change

The cuts are coming… just not this month.


Bill Evans

Forecast: N/A
+ Read Bill's full forecast

May

No change

June

No change

N/A

Other experts on the panel

Melissa Browne

May

No change

June

N/A

I don't believe there's a case to cut rates at present and certainly no reason to move them upwards.

Garry Shilson Josling

May

No change

June

N/A

Nothing much has changed since last month, when the cash rate wasn't moved.

Warren Hogan

April

N/A

May

N/A

The Reserve Bank has said that they aren't going to be doing anything with the cash rate. They are sitting on their hands. I don't think they will do anything for six months, however things can change.

Steven Pambris

May

No change

June

N/A

Any move by RBA to move rates with the budget around the corner which will outline the Government's Fiscal Policy going forward will reflect lack prudence.


Savanth Sebastian

May

Cut

June

N/A

While we don’t think there is a screaming need for interest rates to be cut on economic activity grounds, the low inflation result opens the door for the Reserve Bank to cut rates if they deem it is necessary. When it comes to inflation central banks across that globe are facing the same concerns. The bottom line is that underlying inflation is undershooting the 2-3 per cent target band and that suggests little risk in cutting rates a little further.


David Bassanese

May

N/A

June

N/A

We’re experiencing a steady unemployment rate, which will contribute to the decision to hold the cash rate.


Paul Ryan Eccho Me

Paul Ryan

May

No change

June

N/A

I don't see any reason why the Reserve Bank will vary the position they have held over the past 12 months. I think there would be a level of concern about lenders moving rates outside their own decision so it might be best to keep the cash rate as is.

Michael Blythe

May

N/A

June

N/A

Economy not in need of any further assistance at this stage.


James Bond

May

N/A

June

N/A

The RBA rarely makes one move in isolation, running a campaign of several cuts or rises. This time will be no different. The weak labour force data for January has only added more to the case for a cut.


Paul Williams

May

N/A

June

N/A

The RBA are happy to continue to monitor market conditions and keep monetary policy generally accommodative.

Peter Jones

May

N/A

June

N/A

​There is sufficient stimulus.


Lisa Montgomery

May

No change

June

N/A

There is plenty for the RBA to consider as it approaches this meeting, including a steadily rising Australian Dollar, the May budget and looming Federal election. The decision, however, will be to leave the cash rate on hold.

Ken Sayer

May

No change

June

N/A

There is no compelling reason [for a rate change], unemployment & inflation are both in check.

James McIntyre

James McIntyre

May

N/A

June

N/A

The Reserve Bank Board will have no new, substantive information on the economy compared to their March meeting, where the decision was taken to remain on hold.

Concerns about financial stability are likely to keep the Reserve Bank sidelined… However, if the currency remains elevated, or pushes beyond US$0.78, we think there is a substantive risk the Reserve Bank cuts in May.

Paul Clitheroe

May

N/A

June

N/A

It’s a curate’s egg. The economy is not all bad… Global volatility makes predicting a dangerous sport.

Peter Boehm

May

N/A

June

N/A

No compelling reason to move rates just yet - I think by the middle of the year we'll have a better line of sight of possible rate movements.


Zoe Pointon

May

N/A

June

N/A

Uncertainty in the equity markets and slowing property price growth.


Linda Janice Phillips

May

N/A

June

N/A

​The Reserve Bank must be comfortable with the exchange rate around US$0.71. House price rises in Sydney are slowing, which will be regarded as welcome, but growth is accelerating in Melbourne. While the global outlook is uncertain, it is expected that the Fed will soon start increasing US rates, which will limit the capacity for the Reserve Bank to move on the downside. Some domestic indicators such as unemployment are improving, and the Reserve Bank is reporting a somewhat better outlook. While the markets would like to see rates fall 25bp to offset the mortgage price hikes by the banks last month, on the whole it is likely that the Reserve Bank will be comfortable in waiting until February before making any decision to change rates… The level of volatility in global markets, problems of debt management in developing countries, the threat of expansion of the wars against IS, and uncertainty within the Euro-zone, the latest concern being Portugal, have the potential to upset the base case outlook of a slow but steady improvement in the economy. The risk of "black swan events" is rising, and volatility is likely to remain high.

Angelo Malizis

May

N/A

June

N/A

No economic reason to move at this stage.


David Scutt

May

N/A

June

N/A

It still remains a matter of when, not if, the Reserve Bank will ease policy further. Outside of established residential and commercial property, primarily on the east coast, the domestic economy requires further stimulus. It'll be a line-ball decision as to whether or not they ease but history, along with recent auction clearance rates in Sydney, may see them hold off until May. Either way I expect a cut in one of the next two meetings along with a continuation of their easing bias.”


Gavin Smith

May

N/A

June

N/A

Comments from RBA Governor, Glenn Stevens indicated that the cash rate would remain at current levels for an extended period of time.


Peter Switzer

May

N/A

June

N/A

A rate cut is what they should do but I would not be surprised if they hold. There is a too cautious approach at the Reserve Bank which is holding back growth

Neville Norman

Neville Norman

May

N/A

June

N/A

The market is currently a ‘catch 22'… There has been a high level of unsatisfied young house buyers at continued absurdly low interest rates.


Scott Haslem

May

N/A

June

N/A

N/A

Nicki Hutley

May

No change

June

N/A

Economic indicators, especially labour market indicate reasonable momentum in the Australian economy (although prolonged A$ strength could erode this).


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How the cash rate will impact on your finances

See how the cash rate changes can affect your savings, term deposits, home loans and what you can do about it.

If the rate rises

Find an account which offers the same features and fees but with a better rate.

If the rate gets cut

Consider comparing a competitive term deposit rate so your interest earnings don't suffer.

If the rate holds

Carry out a quick comparison to make sure you're getting the best return on your money, see what promotions banks are offering.

Compare savings accounts

Compare term deposit accounts

If the rate rises

Ask your lender for a rate discount so that if rates do rise you won't be worse off, or alternatively, compare other variable or even fixed rate home loans to find a better deal.

If the rate gets cut

See how your lender responds to the cut. If they don't pass on the full rate cut, ask for a rate discount, and if you're still not happy start comparing what other deals are in the market. Some lenders have been known to pass on more than the official rate cut after an RBA announcement!

If the rate holds

Compare other variable rate home loans to make sure you're still getting the best deal. If rates are tipped to rise in the near future you may also want to compare fixed rates.

Compare variable rate home loans

Compare fixed rate home loans

If the rate rises

Your rate won't rise as you locked it in, so you can relax a little. If your fixed rate is soon to end, start comparing what deals are being offered so you don't find yourself scrambling to lock in another rate.

If the rate gets cut

If you feel your home loan is no longer competitive, you might want to obtain a quote from your lender to find out possible exit costs. If this figure is reasonable, you might want to consider comparing variable home loans. Use our switching costs calculator to see if you'd save.

If the rate holds

Because your rate is fixed for an agreed period of time, a decision by the RBA to hold won't have as much of an effect on you depending on how long you still have to go in your fixed term. As mentioned above, you might still want to monitor the other deals in the market to keep informed.

Compare fixed rate home loans

Compare variable rate home loans

If the rate rises

If rates rise, savings accounts rates could be increased as well. If this happens, you might want to compare the rates of high interest savings accounts. Remember that most term deposits have interest penalties if you withdraw your funds early, so keep this in mind.

If the rate gets cut

Your rate won't change because it's locked in, but if you're nearing the end of your term start comparing both high interest savings accounts and term deposits to find a good deal.

If the rate holds

Compare accounts and ensure you're aware of what's being offered in the market.

Compare savings accounts

Compare term deposit accounts

History of the Reserve Bank of Australia official Cash Rate

The graph above shows the movement in the official cash rate target. A lower cash rate reduces the cost of borrowing money so more people are encouraged to borrow - stimulating the economy. Higher interest rates tends to subsequently encourage spending. This is how a rise or fall in rates affects the level of supply and demand and therefore the level of inflation - which the RBA wants to keep in the target range of 2%-3%.

Embed this interactive graph on your website by copying and pasting the code below into your HTML and it will be automatically updated every month.

How does Australia compare with the rest of the world?

The Reserve Bank is only one of many central banks around the world. Each country’s central bank has its own challenges in balancing growth, inflation and monetary policy. The chart below shows how Australia’s cash rate compares to those of some of the other big economies around the world.

What is the Reserve Bank of Australia and what is the cash rate target?

The Reserve Bank of Australia (RBA) is the government body that implements monetary policy by setting the Australian cash rate, announced on the first Tuesday of the month. Although the Reserve Bank is government-funded, it is independent of party politics, and has free rein to make its rates decisions without any political influence. The official cash rate is watched by many people, but none more closely than the nation's top economists.

When the RBA decides the appropriate cash rate, its primary aim is to keep inflation to a stable level of two to three per cent. When inflation is moderated in this way, it keeps the value of the Australian dollar stable and supports long-term growth in the economy, with a view to keeping a high employment rate. The RBA announcement of the cash rate each month is watched closely by the media and home-owners because it is one of the key factors that determine the interest rates set by banks for their home loans. While banks' lending rates have historically risen and fallen in line with changes in the RBA's cash rate announcement, in recent years the banks have been criticised for not following the RBA's lead.

The interest charged by banks can have a huge impact on the bottom line of a household budget because of the size of their mortgage repayments, so it's useful to understand how the banks decide on the rate that they set.

The interest payment charged by the bank is made up of the cash rate, a risk premium for individual borrowers and a profit margin. In addition to this, there has been an extra factor charged since the global financial crisis because of the reduction in readily accessible cash. The classic supply-demand conundrum has driven up the cost of global inter-bank lending – meaning there is less supply of cash so it has become more expensive – so banks are passing on this cost to consumers by charging higher interest rates.

It's important for home owners to keep an eye on their lender and know they have the power to vote with their feet: if they're not happy with the rates their banks set each month after the RBA cash rate announcement, they should do their research and consider shifting to a new lender.


Reserve Bank monthly announcements

May 2016

April 2016

March 2016


What drives interest rates?

  • - Supply and demand: an increase in the demand for credit will place an upward pressure on interest rates, and vice versa
  • - Inflation: higher inflation means interest rates will probably rise
  • - Government/Monetary policy: when the government buys or sells securities. If the government bought more securities, banks have access to more money than they can use to lend and therefore the interest rate will decrease

Compare home loans today

Whatever the RBA decides each month, it's always a good idea to ensure your home loan stacks up well against what else is being offered in the marketplace. You can compare some current home loan deals below.

Rates last updated June 27th, 2016
$
Loan purpose
Offset account
Loan type
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Pay $0 application fee and borrow up to 90% LVR with LMI.
3.85% 3.87% $0 $0 p.a. 90% Go to site More info
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Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
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IMB Budget Home Loan - LVR <80% (Owner Occupier)
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3.94% 3.99% $445 $0 p.a. 80% Go to site More info
Switzer Home Loan
No upfront or ongoing fees and a competitive variable rate for owner occupiers.
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Heritage Bank Discount Variable Home Loan - Special Rate Offer (Owner Occupier)
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3.98% 4.03% $600 $0 p.a. 95% Go to site More info
Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier)
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Teachers Mutual Bank Classic Home Loan - Owner Occupier
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ClickLoans The Online Home Loan -  Owner Occupier ≤ 80% LVR
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3.84% 3.84% $0 $0 p.a. 80% Go to site More info
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier)
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Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed
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Australian Unity Health, Wealth and Happiness Package - (Owner Occupier)
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ME Bank Flexible Home Loan With Member Package - LVR <=80% (Owner Occupier)
Enjoy a discount of 0.79% off your interest rate with this new owner occupier home loan special offer.
3.89% 4.30% $0 $395 p.a. 80% Go to site More info
UBank UHomeLoan - 3 Year Fixed Rate (Investor)
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NAB Base Home Loan - Principal and Interest (Owner Occupier)
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Switzer Investment Loan
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Beyond Bank Total Home Loan Package - 3 Years Fixed
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Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate Discount Rate $150k+ <80% LVR (Owner Occupier)
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3.89% 4.47% $300 $10 monthly ($120 p.a.) 80% Go to site More info
Switzer Fixed Rate Home Loans - 2 Years Fixed Rate
A competitive 2 year fixed rate with your very own lending service manager.
3.97% 3.99% $0 $0 p.a. 80% Go to site More info
loans.com.au Fixed - 2 Year Fixed (Owner Occupier)
Another low interest rate offer from loans.com.au. No application fee to pay.
3.99% 3.91% $0 $0 p.a. 90% Go to site More info
ME Bank Basic Home Loan - LVR <=80% Owner Occupier
A low variable rate home loan with no application or ongoing fees.
4.24% 4.26% $0 $0 p.a. 80% Go to site More info
4.02% 4.43% $0 $395 p.a. 80% Go to site More info
IMB Essential Home Loan - LVR < 80% (Owner Occupier)
Get a discount on your rate and flexible repayment options with this loan.
4.24% 4.24% $0 $0 p.a. 80% Go to site More info
ME Bank Flexible Home Loan Fixed - 2 Year Fixed Rate (Owner Occupier)
No application or ongoing fees and a competitive 2 year fixed rate.
3.99% 4.86% $0 $0 p.a. 95% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Years Fixed
Split your home loan for free with one of the lowest fixed home loan rates.
3.89% 4.78% $0 $0 p.a. 95% Go to site More info
UBank UHomeLoan Variable Rate - Real Reward Offer (Owner Occupier Interest Only)
Enjoy a competitive variable rate home loan from UBank.
4.13% 4.13% $0 $0 p.a. 80% Go to site More info
loans.com.au Fixed - 3 Year Fixed (Owner Occupier)
Low rate 3 year option with no ongoing fees or application fee, loans.com.au is an award winning home loan lender.
3.99% 3.91% $0 $0 p.a. 90% Go to site More info
NAB National Choice Package Home Loan - 5 Year Fixed (Principal and Interest)
A competitive home loan comes with flexible features.
4.59% 5.07% $0 $395 p.a. 95% Go to site More info
CUA Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier)
Lock in a competitive rate for three year with CUA.
3.99% 4.64% $600 $0 p.a. 95% Go to site More info
NAB National Choice Package Variable Rate - $250k to $749,999 P&I
A great variable package home loan from NAB which includes offset and redraw features. No application fee to pay.
4.50% 4.89% $0 $395 p.a. 95% Go to site More info
Liberty Financial Star Home Loan - LVR ≤ 70%
A competitive variable rate with 100% offset account and no application fees.
3.99% 4.30% $0 $295 p.a. 70% Go to site More info
ANZ Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
Lock in your rate for 2 years with an interest only option.
3.90% 5.16% $600 $10 monthly ($120 p.a.) 95% More info
Westpac Flexi First Option Home Loan - Special Offer
Discount off the standard interest rate for new owner-occupier loans for the first 2 years.
3.75% 4.16% $0 $0 p.a. 95% More info
St.George Basic Home Loan - Promotional Rate (Owner Occupier >$150k)
A no frills home loan with competitive rate.
4.04% 4.05% $0 $0 p.a. 95% More info
St.George Fixed Rate Advantage Package - 2 Years Fixed (Owner Occupier Promotional Rate)
Lock in your interest rate for 2 years with the St.George Advantage package and you'll currently get an additional discount.
3.75% 5.11% $0 $395 p.a. 95% More info
Suncorp Home Package Plus Fixed - 3 Year Fixed Rate (Special Offer $150k+ LVR <=90% Owner Occupier)
Lock in a special offer rate for 3 years for loans over $150k with LVR below 90%.
3.99% 4.49% $0 $375 p.a. 90% More info
Commonwealth Bank Wealth Package Fixed Home Loan - 2 Year Fixed (Owner Occupier)
Fee free extra repayments available during the fixed term. $1,500 cash back offer for refinancers. Conditions apply.
4.19% 5.13% $0 $395 p.a. 95% More info
4.19% 5.39% $0 $395 p.a. 95% More info
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years
A low interest rate home loan with a low service fee.
4.19% 5.01% $0 $395 p.a. 95% More info

Compare savings account interest rates today

It's also a good idea to regularly compare savings accounts to ensure you're still getting a competitive interest rates. Interest rates for high interest savings accounts also increase if the cash rate increases, therefore getting a higher return on your investment.

Rates last updated June 27th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ME Online Savings Account
Ongoing, variable 3.35% p.a. variable rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.
3.35% 1.55% 1.80% $0 $0 / $0 Open More
Citibank Online Saver
Introductory rate of 3.40% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances below $500,000.
3.40% 2.00% 1.40% $0 $0 / $0 Open More
ING DIRECT Savings Maximiser
Ongoing, variable 3.00% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month. Available on balances up to $100,000.
3.00% 2.00% 1.00% $0 $0 / $0 Open More
Bankwest Hero Saver
Ongoing, variable 2.90% p.a. rate when you deposit at least $200 p/m with no withdrawals. Available on balances up to $250,000.
2.90% 0.01% 2.89% $0 $0 / $0 Open More
Bank of Queensland WebSavings Account
Introductory rate of 3.00% p.a. for 4 months, reverting to 1.80% p.a. Available on balances up to $5,000,000 (subject to approval).
3.00% 1.80% 1.20% $0 $2,000 / $1 Open More
RaboDirect High Interest Savings Account
Introductory rate of 3.25% p.a. for 4 months, reverting to 2.30% p.a. Available on balances up to $250,000.
3.25% 2.30% 0.95% $0 $0 / $0 Open More
ANZ Online Saver
Introductory rate of 2.96% p.a. for 3 months, reverting to 1.55% p.a. Available on the entire balance.
2.96% 1.55% 1.41% $0 $0 / $0 Open More
HSBC Serious Saver
Introductory rate of 2.50% p.a. for 4 months, reverting to 1.85% p.a. Available on balances up to $1,000,000.
2.50% 1.85% 0.65% $0 $0 / $0 Open More
Bankwest TeleNet Saver
Introductory rate of 3.25% p.a. for 4 months, reverting to a rate of 1.75% p.a. Available up to $5,000,000.
3.25% 1.75% 1.50% $0 $0 / $1 Open More
Westpac eSaver
Introductory rate of 2.95% p.a. for 5 months, reverting to 1.50% p.a. Available on the entire balance.
2.95% 1.50% 1.45% $0 $0 / $0 Open More
Bank of Queensland Bonus Interest Savings Account
Ongoing, variable 2.75% p.a. when you only withdraw once per month. Available on the entire balance.
2.75% 1.00% 1.75% $0 $0 / $1 Open More
ANZ Progress Saver
Ongoing, variable 2.26% p.a when you deposit at least $10 and make no withdrawals. Available on the entire balance.
2.26% 0.01% 2.25% $0 $10 / $10 Open More
St.George Maxi Saver
Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
3.20% 1.25% 1.95% $0 $1 / $1 Open More
BankSA Maxi Saver
Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
3.20% 1.25% 1.95% $0 $1 / $0 Open More
Bank of Melbourne Maxi Saver
Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
3.20% 1.25% 1.95% $0 $0 / $1 Open More
BankSA Incentive Saver Account
Ongoing, variable 2.10% p.a when you make at least one deposit and no withdrawals. Available on the entire balance.
2.10% 0.01% 2.09% $0 $0 / $1 Open More
Bank of Melbourne Incentive Saver
Ongoing, variable 2.10% p.a when you make at least one deposit and no withdrawals. Available on the entire balance.
2.10% 0.01% 2.09% $0 $0 / $1 Open More
HSBC Flexi Saver Account
Ongoing, variable 2.25% p.a when you make a minimum monthly deposit of $300. Available on balances up to $5,000,000.
2.25% 1.75% 0.50% $0 $0 / $0 Open More
Westpac Reward Saver
Ongoing, variable 2.10% p.a when you deposit at least $50 and make no withdrawals. Available on the entire balance.
2.10% 0.01% 2.09% $0 $0 / $0 Open More

While the interest rate on variable personal loans can change with the cash rate, they generally don’t. Fixed interest rate personal loans won’t be affected by the cash rate because interest is fixed for the loan term. If you’re looking to get a competitive rate on your personal loan, compare low interest rate personal loans.

Disclaimer: The comments, forecasts, projections and other predictive statements by the panel of experts are assumptions based on currently available information. These forecasts are based on industry trends and economic factors that involve risks, variables and uncertainties. No guarantee is presented or implied as to the accuracy of these forecasts and consumers are advised to read product disclosure statements and understand if financial products are right for them before signing up.

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34 Responses to RBA Official Cash Rate Target Predictions, Historical Graphs & Data

  1. Default Gravatar
    Eric | February 25, 2016

    Hi Belinda

    Appreciate if you would also send me informations regarding findings of monthly RBA survey.

    Regards
    Eric

    • Staff
      Belinda | February 26, 2016

      Hi Eric,

      Thanks for getting in touch.

      On this page, you can view the RBA Cash Rate Target Announcements for each month from February 2015 until February 2016. You can also view the commentary of our resident rate experts in the lead up to each Board meeting which occurs on the first Tuesday of every month (except January).

      Please feel free to sign up to receive our detailed RBA cash rate updates by completing the form provided above.

      Regards,
      Belinda

  2. Default Gravatar
    Syed | December 8, 2015

    Hi,
    My new house is ready now and wondering what is the best time to sell, should I put my house in the market now or January or wait for the February. I am not committed any where so I can wait.

    Your advise needed.

    Thanks

    • Staff
      Belinda | December 9, 2015

      Hi Syed,

      Thanks for your enquiry.

      As finder.com.au is an online comparison service so we are not licensed to give you personal advice regarding the best time to sell your property.

      You can read our guide here about considerations when selling your house.

      All the best,
      Belinda

  3. Default Gravatar
    looooool | August 16, 2015

    hello.
    i wonder if i could receive some information regarding not only the latest current economic situation, but also cash rate movements over the year.

    • Staff
      Belinda | August 17, 2015

      Hi Dongho,

      Thanks for your enquiry.

      Above on this page you can view the ‘Reserve Bank monthly announcements’ to read about the cash rate movements and monetary policy decisions that have occurred over the course of this year. You can also sign up to receive our RBA cash rate updates by filling in the form provided above.

      In regards to the current economic situation, finder.com.au is an online comparative website and we can’t comment on the activity of the broader Australian economy.

      Thanks,
      Belinda

  4. Default Gravatar
    Oli | July 17, 2015

    Can you please send through the information on the RBA via email?
    I’m doing a school Economic assignment on the RBA and financial markets

    • Staff
      Belinda | July 17, 2015

      Hi Oli,

      Thanks for your enquiry.

      I’ve emailed you with some information regarding the findings from our monthly RBA survey.

      Please note that on this page you can sign up to receive our RBA cash rate updates.

      Thanks,
      Belinda

  5. Default Gravatar
    yazmin | July 7, 2015

    Hi,

    I was just wondering if I could have information regarding how interests rates will unfold over the next year. In particular, if the current interest rates will be appropriate for the economic conditions in Australia.

    Thank you
    Yazmin

    • Staff
      Belinda | July 8, 2015

      Hi Yazmin,

      Thanks for your enquiry.

      Firstly, I’d like to point out that finder.com.au is an online comparison and general information service so we’re not in a position to forecast interest rates.

      However, on this page you can sign up to receive our RBA cash rate updates which you might find useful.

      Thanks,
      Belinda

  6. Default Gravatar
    Jeff | June 22, 2015

    I also would like to know what the RBA is likely to do with interest rates over the next 12 months or at least material to allow me to make my own assessment please.

    thank you

    Jeff S

    • Staff
      Jodie | June 22, 2015

      Hi Jeff,

      I have emailed you the information we sent to others people who have asked us regarding the RBA.

      Regards
      Jodie

  7. Default Gravatar
    TJ | June 17, 2015

    Hi,

    I also would like to know what the RBA is likely to do with interest rates over the next 12 months

    Regards

    • Staff
      Jodie | June 17, 2015

      Hi TJ,

      Thank you for making contact with finder.com.au, an online comparison website.

      I have sent through to you via email the same information regarding the RBA predictions that was sent to Patrick by mu colleague Belinda, I hope this helps.

      Regards
      Jodie

  8. Default Gravatar
    Hi | June 12, 2015

    What is the RBA likely to do with interest rates within; 3 months, 6 months, 12 months, and 18 months timeframes.

    Refer to movement in interest rates (up, down or no change) and provide reasons.

    • Staff
      Belinda | June 15, 2015

      Hi Patrick,

      Thanks for your enquiry.

      I’ve sent you an email with some information and findings from our monthly Reserve Bank Survey.

      Kind regards,
      Belinda

    • Default Gravatar
      Hi | June 15, 2015

      Hi Belinda,
      Thanks for your assistance! I found it quite useful.

  9. Default Gravatar
    | May 11, 2015

    Hi,

    I would like to know when are they going to cut interest rates on Credit Cards ?

    Why is the government so spineless when it comes to forcing Banks to lower credit card rates.

    • Staff
      Sally | May 19, 2015

      Hi Ken,

      Thank you for your question.

      Interest rate changes in a product range is subject to the bank’s individual lending policies. In regards to monetary policy and the interest rates of banks, changes in the interest rate will create an inverse movement in the monetary supply of an economy, affecting the supply and demand of monetary assets. For more information on why banks need to react accordingly to monetary policy changes it may be recommended to seek the advice of an accredited economic reporting body.

      I hope this answered your question.

      Thanks,

      Sally

  10. Default Gravatar
    phil | May 5, 2015

    what time is the decision made

    • Staff
      Elizabeth | May 5, 2015

      Hi Phil,

      Thanks for your question.

      The decision is announced at 2:30pm.

      Thanks,

      Elizabeth

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