RBA Cash Rate

Your destination for RBA news, expert forecasts and more

hold

1.50%

Cash rate held

at 1.50% on Tuesday 7 February 2017

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 learn more about the RBA and how its decisions influence the interest rates banks charge, and learn about the best strategies for home owners and investors when there's a rate cut, hold or rise decision.

58% of experts in our survey suggest that the next rates move will be an increase, but within that group 55% believe the rise won't happen until 2018. Enter our poll and let us know what you think will happen.

ANALYSIS: Which lenders have moved rates in January already?

100%of our resident rate experts

correctly forecast the rate to hold at 1.50% on Tuesday 7 February 2017 View forecasts →

Next meeting: 2:30pm 7 March 2017

UPDATE: February 2017 RBA decision recap

 

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Our resident rate experts

+ Open all commentary

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

Jordan Eliseo

Jordan Eliseo

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

December

No change

February

No change

The RBA is likely to sit tight for a month or two, analysing all incoming data before they make their next move. They'll be worried about low inflation, but will also have one eye on resurgent investor activity in the housing space, whilst broader economic data hasn't softened enough (yet) to warrant immediate stimulus.


Shane Oliver

Forecast: Down in March, 2017 + Read Shane's full forecast

December

No change

February

No change

December quarter CPI was in line with RBA forecasts and RBA would like more time to see how the economy performs after its September quarter slump.


John Hewson

John Hewson

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

December

No change

February

No change

Wait and see how things unfold, both globally under Drumpf, and domestically.


Richardrobinson

Richard Robinson

Forecast: Up in December, 2017 + Read Richard's full forecast

December

No change

February

No change

[The] economy [is] still Ok. RBA doesn't want to (or should not) [cut] because a rate cut will give a further unwelcome boost to the Sydney and Melbourne housing markets.


Paul Dales

Paul Dales

Forecast: Up in 2018 and beyond + Read Paul's full forecast

December

No change

February

No change

The RBA will have to admit that economic growth both this year and next will be weaker than it previously thought, but due to the strengthening of activity overseas and the rise in the prices of Australia's main commodity prices, it won't revise down its underlying inflation forecasts by enough to trigger a rate cut.


Michael Blythe

Forecast: Up in April, 2017 + Read Michael's full forecast

December

N/A

February

No change

RBA unlikely to cut against a backdrop of higher commodity prices and still hot housing market.


Savanth Sebastian

Forecast: Down in December, 2017 + Read Savanth's full forecast

December

No change

February

No change

The Reserve Bank is comfortable on the interest rate sidelines. Will wait on more timely data, focus will be on business investment over the next six months.

Andrew Wilson

Forecast: Down in May, 2017 + Read Andrew's full forecast

December

No change

February

No change

Should be a close call for a cut on the exposed economic data but the Bank has taken a conservative stance on settings lately so more likely to remain on hold - for now.

Scott Morgan

Forecast: Up in 2018 and beyond + Read Scott's full forecast

December

No change

February

No change

The economic data does not support the need to change rates.


Mark Brimble

Forecast: Up in 2018 and beyond + Read Mark's full forecast

December

No change

February

No change

Uncertainty and volatility in markets driven by US politics and variable economic data.


Alex Joiner

Alex Joiner

Forecast: Down in August, 2017 + Read Alex's full forecast

December

No change

February

No change

The case hasn't been made for a short term rate cut despite a softish inflation pulse.


Robert Montgomery

Robert Montgomery

Forecast: Down in April, 2017 + Read Robert's full forecast

December

No change

February

No change

The RBA will hold for now, but continued low inflation and GDP growth indicate further rate cuts later in 2017.

Michael Witts

Forecast: Down in May, 2017 + Read Michael's full forecast

December

No change

February

No change

The economic data released locally and global developments suggest that the RBA will be on hold for an extended period.


Leanne Pilkington

Leanne Pilkington

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

December

No change

February

No change

We don’t see the Reserve Bank having the justification nor the desire for further easing after the rate cuts of last year. From a housing industry perspective, rates are already low and have been for some time, so that piece of the affordability puzzle is in place. It’s through other avenues like stamp duty reform that improvements in affordability need to addressed.


Nicholas gruen

Nicholas Gruen

Forecast: Up in 2018 and beyond + Read Nicholas's full forecast

December

No change

February

No change

Because this is consistent with their reasoning so far - even if it seems to me complacent, unambitious, and confused.


Mathew Tiller LJ Hooker

Mathew Tiller

Forecast: Up in 2018 and beyond + Read Mathew's full forecast

December

N/A

February

No change

Australian economic indicators are still mixed and the housing market still has a bit too much "heat" in it to move rates just yet.


Stephen Koukoulas

Forecast: Down in September, 2017 + Read Stephen's full forecast

December

No change

February

No change

The RBA is pig headed about the risks and growth momentum of the economy. It should cut but won't. Real GDP growth is soft, inflation remains below target and the unemployment rate is rising again. Yet is gives huge weight to house prices and therefore is reluctant to cut.


MIchaelYardneyHeadshot100px

Michael Yardney

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

December

No change

February

No change

The annual figure for headline inflation (1.5 per cent) remains well below the RBA target range of 2 to 3 per cent. This makes the view by some commentators that a rise in rates will occur early this year unlikely. On the other hand the strong property markets in a number of states will make it difficult for the RBA to lower rates further. They're likely to hold steady and see how the year pans out.


Mark Crosby

Forecast: Up in 2018 and beyond + Read Mark's full forecast

December

N/A

February

No change

International jitters aside the local environment is still solid and falling inflation now seems less likely in H1 2017.


Emily Dabbs

Forecast: Down in June, 2017 + Read Emily's full forecast

December

No change

February

No change

Inflation pressures remain downbeat and employment outcomes have improved only marginally. But highly leveraged households pose a downside risk to financial stability and this will likely keep the RBA on the sidelines.


Jessica Darnbrough

Forecast: Down in August, 2017 + Read Jessica's full forecast

December

No change

February

No change

There is a lot of volatility at the moment in both the domestic and global markets. As such, I think the Reserve Bank will believe the best course of action is a stable cash rate setting.


Jonathan Chancellor

Forecast: Up in November, 2017 + Read Jonathan's full forecast

December

No change

February

No change

The board will need a few fresh indicators from 2017 data before they need take any action on the interest rate front.


Matthew Peter

Forecast: Up in 2018 and beyond. + Read Matthew's full forecast

December

No change

February

No change

While weak growth and low inflation could justify a lower cash rate, the threat of exacerbating an overheated housing market and the lack of confidence that the RBA has in further rate cuts to deliver substantive economic stimulus will see the RBA keep the cash rate firmly fixed at its current setting of 1.5%.


Noel Whittaker

Forecast: Up in 2018 and beyond + Read Noel's full forecast

December

No change

February

No change

No good reason to move rates.


Angus Raine

Forecast: Up in May, 2017 + Read Angus' full forecast

December

No change

February

No change

N/A


Saul Eslake

Forecast: Up in 2018 and beyond + Read Saul's full forecast

December

No change

February

No change

Monetary policy settings are already highly accommodative; data on growth and inflation since the last RBA Board meeting (in December) have been broadly in line with RBA expectations since monetary policy settings were last altered, and it's unlikely that those expectations have themselves been significantly revised, so no need to change policy settings now.


Christine Williams

Christine Williams

Forecast: Up in 2018 and beyond + Read Christine's full forecast

December

No change

February

No change

[The] employment rate has been steady globally. We are watching USA foreign investment [which] will increase this month.


Janu Chan

Forecast: Down in May, 2017 + Read Janu's full forecast

December

No change

February

No change

Developments over the past few months are not sufficient for a movement in rates. Low inflation and a mediocre pace of economic growth suggests that rates will remain low for sometime and keeps alive the chances of a cut. However, there is a hurdle for further rate cuts given some heat has returned to the housing market.


Stephen Milch

Steven Milch

Forecast: Up in May, 2017 + Read Steven's full forecast

December

No change

February

No change

Activity data are quite solid yet inflation [is] still below target. One balances the other and suggests steady rates.


Brian Parker

Brian Parker

Forecast: Down in May, 2017 + Read Brian's full forecast

December

N/A

February

No change

Economic growth and inflation are panning out as the RBA has expected, at least for the time being.


Clement Allan Tisdell

Clement Allan Tisdell

Forecast: Up in October, 2017 + Read Clement's full forecast

December

No change

February

No change

Uncertainty [is the reason the RBA will hold the cash rate].


Nicki Hutley

Forecast: Down in March, 2017 + Read Nicki's full forecast

December

N/A

February

No change

The risk of asset price inflation is greater than the current need for additional stimulus.


Bill Evans

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

December

No change

February

No change

N/A

Other experts on the panel

Garry Shilson Josling

December

N/A

February

N/A

The economy is doing enough to allow the RBA to stay on the fence, and there are hints that inflation is bottoming out.


Melissa Browne

December

N/A

February

N/A

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


AlisonBoothANU

Alison Booth

December

No change

February

N/A

No significant changes in economic fundamentals since the last meeting.


Warren Hogan

December

N/A

February

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.


Peter Munckton

December

No change

February

N/A

Because the RBA expects inflation to rise in 2017.


Darryl Gobbett

Darryl Gobbett

December

N/A

February

N/A

Sept Qtr CPI and other information points to underlying continuing well under 1.5% well through 2017. $A also continues higher than the RBA would see as desirable.


Scott Pape

December

N/A

February

N/A

The cuts are coming… just not this month.


David Bassanese

December

N/A

February

N/A

Annual underlying inflation has been confirmed as running 0.5% lower than the RBA expected 6 months ago.


Chris Caton

December

N/A

February

N/A

There's another cut out there, and July can't be ruled out, but the RBA would probably prefer to wait for more evidence on inflation.


Paul Ryan Eccho Me

Paul Ryan

December

N/A

February

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.

James Bond

December

N/A

February

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.


Peter Haller

Peter Haller

December

No change

February

N/A

The RBA will wait to see the next quarterly CPI print before considering any further changes to the cash rate.


Shane Garrett

December

No change

February

N/A

The current rate is appropriate given the mix of subdued inflationary pressures and reasonably robust economic growth.


Paul Bloxham

December

N/A

February

N/A

The inflation targeting regime is 'flexible' and the RBA has already cut by 50bps this year.


Jason Spencer

December

N/A

February

N/A

There is no significant weakening in the Australian economy to justify a drop at this time.


Lynne Jordan

Lynne Jordan

December

N/A

February

N/A

The odds are looking slim for a Melbourne Cup day rate cut, with the RBA set to hold the official cash rate again at 1.5 per cent. The latest inflation figures were always going to play a big part in the RBA's decision, and with inflation creeping in a little stronger than expected, there is no need for any action yet.


Matthew Pollock

Matthew Pollock

December

N/A

February

N/A

The Q3 CPI result was low but showed signs of improvement. on top of that commodity prices are on the improve and should give a much need boost to national income growth, and in turn lift price growth.


John Caelli

December

N/A

February

N/A

The CPI data remains weak but continued strength in house prices means the Bank can probably remain on hold for a while.


Lisa Montgomery

December

N/A

February

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.

James McIntyre

James McIntyre

December

N/A

February

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

December

N/A

February

N/A

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


Ken Sayer

December

No change

February

N/A

The downward pressure on rates has been overshadowed by international influences.


Effie Zahos

December

N/A

February

N/A

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


Chris Schade

December

N/A

February

N/A

The most likely scenario seems to be one where the RBA remains on hold for at least the remainder of 2016 as it waits for further information around domestic and global developments. The domestic economy is performing in line with expectations, and an anticipated US rate hike in December should help take some heat out of the Australian Dollar. There does not appear to be a compelling reason for further monetary easing at this point.


Alan Oster

December

No change

February

N/A

It's too early yet to judge what impact RBA's actions have had on the economy. Worries about the economy offset by house prices. Inflation still low but can wait.


Peter Boehm

December

N/A

February

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

December

N/A

February

N/A

Uncertainty in the equity markets and slowing property price growth.

Linda Janice Phillips

December

N/A

February

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.


Nathan McMullen

December

N/A

February

N/A

RBA likely to review Q2 inflation data due late July before revisiting changes to the cash rate.

Angelo Malizis

December

N/A

February

N/A

No economic reason to move at this stage.

David Scutt

December

N/A

February

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

December

N/A

February

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

December

N/A

February

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


George Tharenou

George Tharenou

December

No change

February

N/A

We believe the RBA has drawn a "line in the sand" at the 1½% y/y pace for underlying inflation, given it is the lower bound of every single point forecast the RBA has out until the end of 2018. If underlying inflation were to drift below this in coming quarters, the RBA would likely feel under some pressure to further lower the cash rate. Absent this, we see the RBA on hold at 1.5% for the foreseeable future.


Holden_Richard 1

Richard Holden

December

N/A

February

N/A

Inflation data was not terrible.


Neville Norman

Neville Norman

December

N/A

February

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.


What do you think the RBA will do with the cash rate in February 2017?

Hold0%
Cut 0%
Raise0%



How the cash rate can impact 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.

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.

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.

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.

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 tend to 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%.

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 2-3%. 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 closely.

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.


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 current home loan deals below.

Rates last updated February 26th, 2017
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier)
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Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.
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Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
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 <=90% (Owner Occupier)
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Beyond Bank Low Rate Special Home Loan
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No upfront or ongoing fees and a competitive variable rate for owner occupiers.
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A limited time 2 year fixed rate for owner occupiers. Conditions apply.
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A competitive variable interest home loan offer from ING DIRECT.
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3.79% 3.83% $0 $0 p.a. 80% Go to site More info
CUA Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
A fixed home loan with no ongoing fees and flexible repayments options.
3.84% 4.59% $600 $0 p.a. 95% Go to site More info
Australian Unity Kick Starter Home Loan
$0 ongoing service fees, maximum 80% LVR and a linked transaction account.
3.79% 3.82% $600 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier Special Rate)
A limited time fixed rate home loan with extra repayment abilities. Conditions apply.
3.99% 4.73% $0 $0 p.a. 95% Go to site More info
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Bank Australia Premium Home Loan Package - 2 Year Fixed (Owner Occupier) LVR < 80%
A discounted 2 year fixed rate loan with high maximum LVR and no application fee.
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Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier)
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3.89% 3.89% $0 $0 p.a. 85% Go to site More info
Bank Australia Premium Home Loan Package - LVR<=80% $700k + (Owner Occupier)
Enjoy the discounted interest rate with redraw facility and no ongoing fees.
3.82% 4.17% $595 $350 p.a. 95% Go to site More info
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Get a short term fixed rate for that investment property with no application or ongoing fees.
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Australian Unity Wealth Builder Investor Package Home Loan - Variable
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4.19% 4.22% $600 $0 p.a. 90% Go to site More info
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Westpac Flexi First Option Home Loan - 3 Years Introductory Special Offer (New Owner Occupier, P&I)
A limited time deal for new owner occupiers. Advertised rate includes 1.03%p.a. discount for the first two years.
3.99% 4.37% $0 $0 p.a. 95% Enquire now
St.George Basic Home Loan - Promotional Rate (Owner Occupier, P&I)
A no frills loan with a competitive rate and a maximum LVR of 95%.
4.08% 4.09% $0 $0 p.a. 95% Enquire now
Commonwealth Bank Wealth Package Fixed Home Loan - 2 Year Fixed (Owner Occupier) P&I
A package home loan with fee free extra repayments available during the fixed term.
3.99% 5.00% $0 $395 p.a. 95% Enquire now
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier, P&I)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cash back available for refinancers, conditions apply.
3.99% 5.04% $0 $395 p.a. 95% Enquire now
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years
A low interest rate home loan and competitive two year fixed rate.
4.19% 5.32% $0 $395 p.a. 95% Enquire now

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 February 26th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
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% 1.60% 1.40% $0 $0 / $0 Open More
Bankwest Hero Saver
Ongoing, variable 2.65% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
2.65% 0.01% 2.64% $0 $0 / $0 Open More
Bank Australia Bonus Saver Account
Ongoing, variable 2.60% p.a. when you deposit at least $100 and make no withdrawals. Available on the entire balance.
2.60% 0.15% 2.45% $0 $0 / $1 Open More
ME Online Savings Account
Ongoing, variable 3.05% p.a. 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.
3.05% 1.30% 1.75% $0 $0 / $0 Open More
Bank Australia mySaver Account
Ongoing, variable 2.60% p.a. when you deposit $10+ each month. Available on the entire balance and to customers under the age of 25.
2.60% 0.15% 2.45% $0 $0 / $10 Open More
ANZ Progress Saver
Ongoing, variable 1.91% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on the entire balance.
1.91% 0.01% 1.90% $0 $10 / $10 Open More
Bank Australia Online Saver Account
Ongoing, variable rate up to 1.65% p.a. when you link to a Bank Australia Everyday Access or Pension Access or a mortgage offset account. Available on balances more than $5,000.
1.65% 1.65% 0.00% $0 $150,000 / $5,000 Open More
Westpac eSaver
Introductory rate of 2.51% p.a. for 5 months, reverting to a rate of 1.05% p.a. Available on the entire balance.
2.51% 1.05% 1.46% $0 $0 / $0 Open More
ING DIRECT Savings Accelerator
Ongoing, variable 2.35% p.a. applies on balances $150,000 and over.
2.35% 2.35% 0.00% $0 $0 / $0 Open More
BankSA Maxi Saver
Introductory rate of 2.75% p.a. for 3 months, reverting to a rate of 1.00% p.a. Available on the entire balance.
2.75% 1.00% 1.75% $0 $1 / $1 Open More
ANZ Online Saver
Introductory rate of 2.65% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
2.65% 1.25% 1.40% $0 $0 / $0 Open More
Bank of Melbourne Maxi Saver
Introductory rate of 2.75% p.a. for 3 months, reverting to 1.00% p.a. Available on the entire balance.
2.75% 1.00% 1.75% $0 $1 / $1 Open More
BankSA Incentive Saver Account
Ongoing, variable 1.75% p.a. when you make at least one deposit each month and no withdrawals. Available on the entire balance.
1.75% 0.01% 1.74% $0 $0 / $0 Open More
Bank of Melbourne Incentive Saver
Ongoing, variable 1.75% p.a. when you make at least one deposit and no withdrawals each month. Available on the entire balance.
1.75% 0.01% 1.74% $0 $1 / $1 Open More
Westpac Reward Saver
Ongoing, variable 1.75% p.a. when you deposit at least $50 and make no withdrawals each month. Available on the entire balance.
1.75% 0.01% 1.74% $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 in our guide.

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

  1. Default Gravatar
    Julie | September 1, 2016

    When do you think the RBA will start raising rates?

    • Staff
      Jodie | September 7, 2016

      Hi Julie,

      Thank you for contacting finder.com.au we are a financial comparison website and general information service.

      It is hard to predict the movement of the cash rate as it is based on a multitude of factors that are continually changing however 7 out of the 38 experts we surveyed in our latest RBA survey for September 2016 said they predict it will start going up in July 2017 or beyond.

      Regards
      Jodie

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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.

  10. 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

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