RBA Cash Rate

Your destination for RBA news, expert forecasts and more

hold

1.75%

Cash rate held

at 1.75% on Tuesday 5th July 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.

69% of experts in our survey that indicated they think rates will fall believe that this will occur in August 2016.

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

97%of our resident rate experts

correctly forecast the rate to hold at 1.75% on Tuesday 5th July 2016

View forecasts →

What's happening with the property and lending markets this month?

 
  • 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 August 2016?


Hold0%
Cut 0%
Raise0%





"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

Garry Shilson Josling

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

June

N/A

July

No change

The RBA will most likely wait until after the CPI figures in late July, but a July 5 cut should certainly not be ruled out, After the Brexit vote and the market turmoil that has followed it the RBA could easily decide not to wait and cut at the first opportunity.


Shane Oliver

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

June

No change

July

No change

The RBA expressed comfort with current monetary settings after the June meeting and it's likely in wait and see mode regarding the risks posed by Brexit.

Peter Munckton

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

June

No change

July

No change

The RBA are comfortable with the level of interest rates.

Richard Robinson

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

June

No change

July

No change

Economic and employment growth is currently strong enough to keep the unemployment rate below 6%, so there is no urgency to cut rates. There are also lingering concerns any cut will again bolster house prices.

Chris Caton

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

June

No change

July

No change

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.


Michael Blythe

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

June

N/A

July

No change

RBA is waiting for next CPI reading before deciding on rates.


Savanth Sebastian

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

June

N/A

July

No change

RBA will want to look through the current share market volatility and also wait on the June quarter CPI result.


Andrew Wilson

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

June

No change

July

No change

Waiting for June qtr CPI data.

Scott Morgan

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

June

No change

July

No change

There is nothing in the recently released data to suggest further cuts are needed at this stage. There is no need for a knee jerk response to Brexit or other issues. I think the RBA will want the election to be out of the way and some time to look at how the economy and markets are responding to the previous cut.


Mark Brimble

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

June

No change

July

No change

Given the frenzy of speculation, action and reaction re the Brexit the RBA will be reluctant to muddy the waters this month and will want to see how this plays out. Bias remains to easing further however.


Atul Narang

Atul Narang

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

June

N/A

July

No change

RBA might hold the cash rate considering Australia's seasonally adjusted unemployment rate stood at 5.7 percent in May 2016, unchanged from the previous two months. Having said that, Brexit might have an impact on the interest rates in the near future if US Federal Reserve delay the rate hike which would keep the Australian dollar higher than the RBA would like. This might force RBA to cut interest rates again to stimulate the economy and to lower the Australian dollar. So we might see an interest rate cut in the next RBA meeting. Though this is a good time for consumers to shop around for great home loan deals and demand a rate cut from their lender.


Peter Haller

Peter Haller

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

June

N/A

July

No change

The RBA's focus is on the domestic economy. There has been no data releases in the last several weeks to materially change the bank's neutral tone from its June meeting.


Jason Spencer

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

June

No change

July

No change

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


Paul Bloxham

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

June

No change

July

No change

Waiting for the Q2 CPI.


Stephen Koukoulas

Forecast: Down in October, 2016
+ Read Stephen's full forecast

June

No change

July

Cut

Downside risks to the global economy has intensified to the point where a cautionary rate cut would be prudent.

John Caelli

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

June

No change

July

No change

The full extent of Brexit’s impact has yet to be played out. We expect the RBA will assess the next CPI figures due late July before considering any further rate cuts in August.


Mark Crosby

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

June

No change

July

No change

The RBA decision will be made at the last minute based on global market volatility in the few days leading up to the decision. As of Wednesday before the decision markets seem to have stabilised, warranting a hold decision. The Brexit vote that is causing financial market volatility should ultimately have little to no impact on our economy, and therefore should not affect the rate decision unless global financial markets crash.

Emily Dabbs

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

June

No change

July

No change

Monthly indicators suggest the economy continues to perform well. The impact of Brexit on Australian markets is relatively minor. The central bank will wait until the CPI data release to assess inflation pressures.

Jessica Darnbrough

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

June

No change

July

No change

I think the Reserve Bank will wait and see what the true impact of the Brexit result will be before making any decisions on the future of the official cash rate. In addition, they may want to wait and see what the next round of inflation data reveals before reducing the cash rate further.


Ken Sayer

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

June

N/A

July

No change

Too much uncertainty.


Chris Schade

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

June

N/A

July

No change

The RBA will take further time to see how the economy is tracking before making a further change to the cash rate. Whilst risks are to the downside, a hold is more likely in July, with the August meeting following the next CPI read looking particularly interesting.

Alan Oster

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

June

No change

July

No change

N/A

Jonathan Chancellor

Forecast: Down in October, 2016
+ Read Jonathan's full forecast

June

No change

July

No change

They are still content to watch their last cut play out.


Matthew Peter

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

June

No change

July

No change

While BREXIT makes for a more compelling case to cut rates, the RBA will not want to give the impression of knee jerk reaction. The RBA will wait to August allowing it to prepare markets for a renewal of the easing cycle, particularly if the July inflation read remains weak.


Noel Whittaker

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

June

No change

July

No change

Wait and see.


Angus Raine

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

June

No change

July

No change

A wait and see due to Britain's exit from EU and federal election.

Nathan McMullen

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

June

No change

July

No change

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


Saul Eslake

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

June

No change

July

No change

Outlook for Australian economy hasn't changed materially since last meeting; Brexit vote does cast a shadow, but it is too early to tell whether that shadow will last long enough and be dark enough to warrant a monetary policy response. RBA likely to wait for June qtr CPI before reconsidering.


Janu Chan

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

June

No change

July

No change

RBA has provided little guidance on rates and little indication that it will lower them any time soon. While that was before the Brexit vote and downside risks to the global economy have increased, this isn't likely to be enough for the RBA to cut as soon as next week, particularly ahead of inflation data later in July.


Nicki Hutley

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

June

N/A

July

No change

No strong reason to move rates in either direction at present.


Bill Evans

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

June

No change

July

No change

N/A

Other experts on the panel

Melissa Browne

June

N/A

July

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

June

N/A

July

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

June

N/A

July

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.


Scott Pape

June

No change

July

N/A

The cuts are coming… just not this month.


David Bassanese

June

N/A

July

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

June

N/A

July

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

June

N/A

July

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.


Shane Garrett

June

No change

July

N/A

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.


Michael Witts

June

No change

July

N/A

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

June

No change

July

N/A

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

June

No change

July

N/A

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.


Peter Jones

June

N/A

July

N/A

​There is sufficient stimulus.


Lisa Montgomery

June

N/A

July

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

June

N/A

July

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

June

N/A

July

N/A

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


Effie Zahos

June

No change

July

No change

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


Peter Boehm

June

N/A

July

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

June

N/A

July

N/A

Uncertainty in the equity markets and slowing property price growth.


Linda Janice Phillips

June

N/A

July

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

June

N/A

July

N/A

No economic reason to move at this stage.


David Scutt

June

N/A

July

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

June

N/A

July

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

June

N/A

July

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

June

N/A

July

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

June

N/A

July

N/A

N/A


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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 July 26th, 2016
$
Loan purpose
Offset account
Loan type
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Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Owner Occupier)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your home value.
3.74% 4.84% $0 $0 p.a. 95% Go to site More info
State Custodians Standard Variable Offset Loan - LVR 80% (Owner Occupier)
Special Owner Occupier Rate. Free Offset Account.
3.74% 4.07% $0 $299 p.a. 80% Go to site More info
IMB Budget Home Loan - LVR <80% (Owner Occupier)
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Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier)
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loans.com.au Essentials - Package Offer
Package your owner-occupier loan with your investment loan and get a competitive rate for both.
3.84% 3.86% $0 $0 p.a. 80% 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. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.20% 4.20% $0 $0 p.a. 95% Go to site More info
Bankwest Complete Home Loan Package Fixed - 3 Year Fixed Rate LVR <90% (Owner Occupier)
Take advantage of a low 3 year fixed rate, 40% offset account and no application fee.
3.89% 4.39% $0 $395 p.a. 90% Go to site More info
Switzer Investment Loan
An investment loan with no application or ongoing fees, and your very own lending service manager.
4.09% 4.09% $0 $0 p.a. 80% Go to site More info
3.89% 3.89% $0 $0 p.a. 80% Go to site More info
3.99% 4.42% $0 $395 p.a. 90% Go to site More info
Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate Discount Rate $150k+ <80% LVR (Owner Occupier)
Special offer for new lending of $150k or more & under 80% LVR, this offer has been extended.
3.69% 4.41% $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% 3.93% $0 $0 p.a. 90% Go to site More info
ME Bank Basic Home Loan - LVR <=80% Owner Occupier
A low variable rate 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 (Owner Occupier)
Split your 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
4.13% 4.13% $0 $0 p.a. 80% Go to site More info
loans.com.au Fixed - 3 Year Fixed (Owner Occupier)
A low rate 3 year loan with no ongoing fees or application fee from an award winning lender.
3.99% 3.93% $0 $0 p.a. 90% 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 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.
4.50% 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
NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier)
A competitive loan with flexible features. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.59% 5.07% $0 $395 p.a. 95% 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 - 2 Year Introductory Special Offer (Owner Occupier)
A limited time deal for new owner occupiers. Advertised rate includes 1.03%p.a. discount for the first two 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 loan with a competitive rate and a maximum LVR of 95%.
4.04% 4.05% $0 $0 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%.
3.79% 4.44% $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. $1,250 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 and competitive two year fixed rate.
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 July 26th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
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 Bonus Interest Savings Account
Ongoing, variable 2.55% p.a. when you only withdraw once per month. Available on the entire balance.
2.55% 0.80% 1.75% $0 $1 / $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
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
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
ANZ Online Saver
Introductory rate of 3.00% p.a. for 3 months, reverting to 1.55% p.a. Available on the entire balance.
3.00% 1.55% 1.45% $0 $0 / $0 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
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
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
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
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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