RBA Cash Rate

Your destination for RBA news, expert forecasts and more

hold

1.50%

Cash rate held

at 1.50% on Tuesday 7 March 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.

68% of experts in our survey suggest that the next rates move will be an increase. 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 March 2017 View forecasts →

Next meeting: 2:30pm 4 April 2017

UPDATE: March 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: Up in Nov 2017 + Read Jordan's full forecast

February

No change

March

No change

A solid rebound in GDP figures and the RBA's strongly expressed reticence to ease further will see the bank sit tight for the foreseeable future.


Shane Oliver

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

February

No change

March

No change

The RBA has a high hurdle to cutting again and not much has really changed since the last meeting.


AlisonBoothANU

Alison Booth

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

February

N/A

March

No change

Combination of economic fundamentals and housing bubble fears of the RBA will lead it to keep rates fixed.


John Hewson

John Hewson

Forecast: Down in Sep 2017 + Read John's full forecast

February

No change

March

No change

No clear argument to lower further. Too exposed to consider an increase.


Peter Munckton

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

February

No change

March

No change

Rates are at the right level.


Darryl Gobbett

Darryl Gobbett

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

February

N/A

March

No change

Quite apparent RBA now is more concerned at future risks of increased household debt from lower rates than any, likely small, benefit to broader economic activity of lower rates. Also now taking a longer term view of meeting the 2-3% inflation target.


Richardrobinson

Richard Robinson

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

February

No change

March

No change

Underlying economic growth is weak, and although the dollar has appreciated recently, which would not please the RBA, there is still too much exuberance in the housing market. So they can't cut rates.


Paul Dales

Paul Dales

Forecast: Down in Aug, 2017 + Read Paul's full forecast

February

No change

March

No change

The RBAs financial stability concerns related to the hot housing market and high level of household debt will prevent it from cutting interest rates to boost underlying inflation and economic growth.

Savanth Sebastian

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

February

No change

March

No change

RBA comfortably on the interest rate sidelines. Subdued inflation ensures rates can stay low for a longer period. However further rate cuts are unlikely given economy is showing signs of improvement.


Andrew Wilson

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

February

No change

March

No change

Positive December quarter GDP numbers.

Scott Morgan

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

February

No change

March

No change

With the latest economic data showing a sound economy and revised growth forecasts, there's no impetus to change rates at the moment. Global drivers will remain an influence on future RBA rate decisions. At the moment I think the next move is up.


Mark Brimble

Forecast: Down in July, 2017 + Read Mark's full forecast

February

No change

March

No change

Economics fundamentals show some improvement, however impact is not widespread. At the same time market uncertainty and sensitivity is very high due to a range of economics, social and political issues that continue to impact with no end in site.


Peter Haller

Peter Haller

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

February

N/A

March

No change

Given the strength of the GDP print, there is no basis for a rate cut.


Shane Garrett

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

February

N/A

March

No change

No pressing need for intervention from the RBA with the current position of the exchange rate, inflation and economic growth.


Alex Joiner

Alex Joiner

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

February

No change

March

No change

No material shift in data or sentiment since February.


Robert Montgomery

Robert Montgomery

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

February

No change

March

No change

The RBA will keep the cash rate steady. Economic growth and inflation figures will have to slide further before another cut to the cash rate is triggered.


Leanne Pilkington

Leanne Pilkington

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

February

No change

March

No change

The RBA has been relatively open about its reticence to adjust the cash rate in the near term in case it jeopardises stability through people borrowing more in pursuit of high priced property. The softness evident in recent wage data lends itself to a hold position. We expect rate rises are quite a way off.


Nicholas gruen

Nicholas Gruen

Forecast: Up in July, 2017 + Read Nicholas's full forecast

February

No change

March

No change

Because they have convinced themselves that this is the best way to minimise the risks to financial stability - though I disagree with them.


Lynne Jordan

Lynne Jordan

Forecast: Up in Sep 2017 + Read Lynne's full forecast

February

N/A

March

No change

Like last month, the RBA will keep the cash rate on hold in March. However, despite summer being behind us, the property market appears to be hotting up, with growth in house prices showing no sign of slowing. Clearance rates are sitting at around 80% across Sydney and Melbourne and housing credit to investors continues to increase at a steady rate as well. This brings the question of housing affordability back to the forefront of everyone's concerns. Although increasing interest rates could help dampen investor activity and slow the market, inflation needs to pick up - likely driven by fiscal stimulus in the US - before the RBA can do anything.


Mathew Tiller LJ Hooker

Mathew Tiller

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

February

No change

March

No change

A stronger than expected GDP result combined with the ongoing strength of the Sydney and Melbourne housing markets should see the RBA hold rates steady in the short term.


Stephen Koukoulas

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

February

No change

March

No change

The RBA is more concerned about a few pockets of rising house prices than dealing with record low inflation, record low wages growth and a generally soft economy. It should cut but won't.


John Caelli

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

February

N/A

March

No change

Cutting rates has the potential to increase house prices, which the RBA is closely watching.


MIchaelYardneyHeadshot100px

Michael Yardney

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

February

No change

March

No change

The latest stats show our economy is bouncing back, so there is no reason for the Reserve Bank to lower rates, especially as it is concerned about the hot property markets in Sydney and Melbourne.


Mark Crosby

Forecast: Up in July, 2017 + Read Mark's full forecast

February

No change

March

No change

No domestic or international case for raising until after the Fed raises. Inflation is slightly below target, but has risen slightly so no case for a cut.


Emily Dabbs

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

February

No change

March

No change

The RBA Governor has indicated that rising household debt and strong house price growth is a concern for the bank, curtailing further rate cuts despite inflation below its target band.


Jessica Darnbrough

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

February

No change

March

No change

I think the Reserve Bank is keen to see what happens in both the domestic and global markets before making any adjustments to the current monetary policy setting. We know that Reserve Bank governor Philip Lowe believes lower rates could cause household debt to rise further, which is something he wants to avoid. As such, we are unlikely to see the RBA trim the cash rate at this meeting.


Chris Schade

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

February

N/A

March

No change

The hurdle for another cut is high. While inflation remains subdued, and the outlook for economic growth over the next year couple of years slightly below trend, interest rate settings in Australia are very accommodative and remain appropriate at their current level.


Alan Oster

Forecast: Down in Nov, 2017 + Read Alan's full forecast

February

N/A

March

No change

RBA happy to sit and watch.


Jonathan Chancellor

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

February

No change

March

No change

There are few reasons to do otherwise.


Matthew Peter

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

February

No change

March

No change

The RBA will be forced to remain on the sidelines for a least another year – can’t cut (for fear of stoking the housing market bubble), can’t hike (due to weak growth and inflation).


Noel Whittaker

Forecast: Down in Sep, 2017 + Read Noel's full forecast

February

No change

March

No change

No reason to move.

Saul Eslake

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

February

No change

March

No change

Data released since the last meeting would not have given the Reserve Bank any reason to think the economy is in need of further monetary policy stimulus (indeed the December quarter national accounts will probably prompt some small upward revisions to their GDP forecasts when next released in May). And comments by Phil Lowe over the past month clearly indicate that he has little appetite for further reductions in interest rates, in the absence of a significant negative economic shock.


Christine Williams

Christine Williams

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

February

No change

March

No change

Unemployment has only slightly reduced by .01 %. The banks are reducing Credit Card interest rates, however they have increased their late fee charge, so there ROI will remain the same.


Janu Chan

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

February

No change

March

No change

The RBA believes the economy will improve enough for inflation to head back towards target. Recent rhetoric has been very positive, and the pickup in housing indicators will also prevent the RBA from lowering rates any further.


Stephen Milch

Steven Milch

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

February

No change

March

No change

Solid growth is offsetting low inflation.

Clement Allan Tisdell

Clement Allan Tisdell

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

February

No change

March

No change

[The RBA will hold] in order to maintain momentum in the non-mining sector.


Nicki Hutley

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

February

No change

March

No change

The economy has momentum and the housing market is frothy.


Bill Evans

Forecast: N/A

February

No change

March

No change

N/A

Other experts on the panel

Garry Shilson Josling

February

N/A

March

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

February

N/A

March

N/A

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

Warren Hogan

February

N/A

March

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.


Scott Pape

February

N/A

March

N/A

The cuts are coming… just not this month.


David Bassanese

February

N/A

March

N/A

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


Chris Caton

February

N/A

March

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.


February

No change

March

N/A

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


Paul Ryan Eccho Me

Paul Ryan

February

N/A

March

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

February

N/A

March

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 Bloxham

February

N/A

March

N/A

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


Jason Spencer

February

N/A

March

N/A

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


Michael Witts

February

No change

March

N/A

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

Matthew Pollock

Matthew Pollock

February

N/A

March

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.

Lisa Montgomery

February

N/A

March

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

February

N/A

March

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

February

N/A

March

N/A

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


Ken Sayer

February

N/A

March

N/A

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


Effie Zahos

February

N/A

March

N/A

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

Peter Boehm

February

N/A

March

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

February

N/A

March

N/A

Uncertainty in the equity markets and slowing property price growth.

Linda Janice Phillips

February

N/A

March

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.


Angus Raine

February

No change

March

N/A

N/A


Nathan McMullen

February

N/A

March

N/A

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

Angelo Malizis

February

N/A

March

N/A

No economic reason to move at this stage.

David Scutt

February

N/A

March

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

February

N/A

March

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

February

N/A

March

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


Brian Parker

Brian Parker

February

N/A

March

No change

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


George Tharenou

George Tharenou

February

N/A

March

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

February

N/A

March

N/A

Inflation data was not terrible.


Neville Norman

Neville Norman

February

N/A

March

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 March 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 March 29th, 2017
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Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
HSBC Home Value Loan - Resident Owner Occupier only
Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.
3.75% 3.77% $0 $0 p.a. 90% Go to site More info
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)
A fixed rate package loan with flexible repayments options.
3.98% 4.97% $0 $395 p.a. 95% Go to site More info
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.
3.59% 4.42% $0 $375 p.a. 85% Go to site More info
State Custodians Standard Variable - LVR 80% (Owner Occupier)
Special Owner Occupier Rate. Free Offset Account.
3.69% 4.03% $0 $299 p.a. 80% Go to site More info
CUA Fresh Start Basic Variable Home Loan - Owner Occupier
A basic mortgage with flexible repayments options.
3.89% 3.94% $600 $0 p.a. 90% Go to site More info
Beyond Bank Low Rate Special Home Loan
A special low variable rate for Owner Occupier with 100% offset account and no application or ongoing fees.
3.83% 3.83% $0 $0 p.a. 70% Go to site More info
ME Flexible Home Loan With Member Package - LVR <=80% $400k up to $699,999 (Owner Occupier)
Enjoy a discount of a competitive interest rate and 100% offset account.
3.89% 4.30% $0 $395 p.a. 80% Go to site More info
State Custodians Standard Variable - LVR 90% (Owner Occupier)
A special rate for owner occupiers with free 100% offset account and no application fee.
3.79% 4.12% $0 $299 p.a. 90% Go to site More info
Switzer Home Loan
No upfront or ongoing fees and a competitive variable rate for owner occupiers.
3.89% 3.89% $0 $0 p.a. 90% Go to site More info
loans.com.au Essentials - Variable (Owner Occupier, P&I)
A low-interest rate loan suited for purchases and refinances with no application or ongoing fees.
3.59% 3.61% $0 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier)
Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.
3.84% 4.22% $0 $395 p.a. 95% Go to site More info
Greater Bank Great Rate Discount Variable with Family Pledge Home Loan - Up to 110% LVR
Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.89% 3.89% $0 $0 p.a. 110% Go to site More info
State Custodians Line Of Credit Loan - LVR 80% to 90% (Owner Occupier)
Borrow up to 90% property value and pay no application fee.
3.79% 4.12% $0 $299 p.a. 90% Go to site More info
loans.com.au Offset Variable - Up to 80% LVR (Owner Occupier P&I)
Take advantage a 100% offset account along with no annual or application fee.
3.67% 3.69% $0 $0 p.a. 80% Go to site More info
IMB Budget Home Loan - LVR <=90% (Owner Occupier)
A competitive budget rate without any unwanted bells and whistles.
3.87% 3.92% $445 $0 p.a. 90% Go to site More info
3.79% 3.81% $0 $0 p.a. 95% Go to site More info
Auswide Bank Home Loan Plus with Freedom Package - Special Package Discount LVR <= 90% (Owner Occupier) P&I
A high maximum LVR home loan with redraw facility and additional payments.
3.79% 4.18% $0 $395 p.a. 90% Go to site More info
State Custodians Breathe Easy - LVR 80% (Owner Occupier)
No application or monthly fees. Includes offset feature.
3.82% 3.85% $0 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate)
A limited time 2 year fixed rate for owner occupiers. Conditions apply.
3.99% 4.81% $0 $0 p.a. 95% 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.
4.09% 4.76% $0 $0 p.a. 95% Go to site More info
ME Basic Home Loan - LVR <=80% Owner Occupier
A low variable rate loan with no application or ongoing fees.
4.09% 4.11% $0 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Standard Rate)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your home value.
4.59% 4.92% $0 $0 p.a. 95% Go to site More info
loans.com.au Essentials - Smart Loan Package P&I
This competitive rate is only available if you package your investment loan with your owner occupier loan.
3.59% 3.61% $0 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Standard Rate)
Get a short term fixed rate for that investment property with no application or ongoing fees.
4.59% 4.95% $0 $0 p.a. 95% Go to site More info
ME Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier)
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
4.09% 4.80% $0 $0 p.a. 95% Go to site More info
Australian Unity Health, Wealth and Happiness Package - (Owner Occupier)
Get a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
4.05% 4.08% $600 $0 p.a. 90% Go to site More info
NAB Base Variable Rate Home Loan - Owner Occupier (P&I)
A competitive no frills home loan with no application fees for a limited time.
4.17% 4.21% $600 $0 p.a. 95% Go to site More info
Australian Unity Wealth Builder Investor Package Home Loan - Variable
An investment loan with no ongoing fees and borrow up to 90% LVR.
4.19% 4.22% $600 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Years Fixed (Standard Rate)
Split your loan for free with one of the lowest fixed home loan rates.
4.69% 4.92% $0 $0 p.a. 95% Go to site More info
NAB Choice Package Variable Rate - $250k to $749,999 P&I (Owner Occupier)
A great variable package from NAB which includes offset and redraw features. No application fee.
4.47% 4.86% $0 $395 p.a. 95% Go to site More info
IMB Essential Home Loan - LVR <=90% (Owner Occupier)
Get a discount on your rate and flexible repayment options with this loan.
4.09% 4.09% $0 $0 p.a. 90% Go to site More info
NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier)
A competitive loan with flexible features.
4.59% 5.05% $0 $395 p.a. 95% Go to site More info
ANZ Simplicity PLUS Home Loan - Special Offer (Owner Occupier)
Enjoy a home loan with no aplication fee or ongoing fee.
4.03% 4.07% $0 $0 p.a. 95% Enquire now
3.88% 3.89% $600 $0 p.a. 90% Enquire now
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.
4.02% 4.40% $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% 4.99% $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, P&I
A low interest rate home loan and competitive two year fixed rate.
3.99% 5.10% $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 March 29th, 2017
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
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 Go to site 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% 1.60% 1.40% $0 $0 / $0 Go to site 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 Go to site 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 Go to site More
CUA eSaver Boost Account
Ongoing, variable 2.95% p.a. when you make a total deposit of at least $250 and no withdrawals in a calendar month. Available on balances up to $500,000.
2.95% 0.50% 2.45% $0 $0 / $0 Go to site 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 Go to site More
HSBC Serious Saver
Introductory rate of 2.25% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
2.25% 1.60% 0.65% $0 $0 / $0 Go to site More
NAB Reward Saver
Ongoing, variable 2.55% p.a. when you link to NAB transaction account and deposit $200+ each month and make no withdrawals in the month . Available on balances up to $5,000,000.
2.55% 0.50% 2.05% $0 $0 / $0 Go to site More
ANZ Progress Saver
Ongoing, variable 1.81% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on the entire balance.
1.81% 0.01% 1.80% $0 $10 / $10 Go to site 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 Go to site 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 Go to site 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 Go to site 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 Go to site More
ANZ Online Saver
Introductory rate of 2.55% p.a. for 3 months, reverting to 1.15% p.a. Available on the entire balance.
2.55% 1.15% 1.40% $0 $0 / $0 Go to site 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 Go to site 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 Go to site 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 Go to site 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 Go to site More
NAB iSaver
Introductory rate of 1.90% p.a. for 4 months, reverting to a rate of 1.20% p.a. Available on balances below $1,000,000.
1.90% 1.20% 0.70% $0 $0 / $0 Go to site More
HSBC Flexi Saver Account
Ongoing, variable 2.00% p.a. when you link to any Australian bank account and deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
2.00% 1.50% 0.50% $0 $0 / $0 Go to site 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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