RBA Cash Rate

Your destination for RBA news, expert forecasts and more

hold

1.50%

Cash rate cut

to 1.50% on Tuesday 2nd August 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.

37% of experts in our survey suggest that rates may dip lower than 1.5% with 18% expecting it to fall as low as 1.25%. Enter our poll and let us know what you think will happen.

LATEST: Which banks are passing on the August 2016 RBA interest rate cut?

56%of our resident rate experts

correctly forecast the rate would fall to 1.50% on Tuesday 2nd August 2016

View forecasts →

UPDATE: How lenders have responded to the RBA rate cut

 
  • 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 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.


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

July

N/A

August

Cut

It's a close call but we think the RBA will cut next week - signifying their intention to arrest the decline in inflationary pressure, which is widespread across the economy today.


Shane Oliver

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

July

No change

August

Cut

June quarter inflation data was not low enough to make an RBA rate cut certain, particularly given that recent economic data has been reasonably good. However, on balance we expect that the RBA will move again to help ensure that inflation expectations do not become entrenched below 2% as has been the case in several other countries, so that there is reasonable confidence that inflation will move back into the target zone in a reasonable time frame and to head off a rebound in the $A that will likely follow if it doesn’t cut again.


John Hewson

John Hewson

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

July

N/A

August

No change

They will wait and see low inflation number confirmed.


Peter Munckton

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

July

No change

August

No change

The RBA are happy with current level of rates.


Steven Pambris

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

July

N/A

August

No change

CPI came in higher than expected.


David Bassanese

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

July

N/A

August

Cut

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


Kishti Sen

Kishti Sen

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

July

N/A

August

No change

No need to cut as economic growth is good, unemployment rate is stable and CPI likely to rise over next year as petrol prices rise. The RBA also needs to keep some policy bullets up its sleeve for when economy slows in the wake of coming residential downturn.


Michael Blythe

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

July

No change

August

Cut

Low inflation.


Andrew Wilson

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

July

No change

August

No change

Inflation low but steady and other economic indicators slightly more positive recently - will likely keep powder dry but still a solid case for a cut.

Scott Morgan

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

July

No change

August

No change

The evidence for a rate cut is not compelling enough at this stage. A rate change is unlikely to fix the factors influencing low inflation. In some respects, low inflation is a global issue. To pull the trigger on a rate cut now is wasted ammunition.


Mark Brimble

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

July

No change

August

Cut

With inflation remained well below the RBA's target range, a building range of head winds (including the expected large scale job losses from heavy manufacturing next year and a stubborn currency) together with APRA's intervention in the credit markets beginning to impact, the RBA has a close call to make, but is likely to want to get ahead of the market and cut rates to offer further support to the economy.


Atul Narang

Atul Narang

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

July

No change

August

Cut

The annual inflation is at just 1 per cent, the weakest annual rise since 1999. It is well below RBA's target range of 2-3 percent so there is a strong chance of a rate cut. RBA's expectation that underlying inflation will be below 2-3 percent range until mid 2018 is based on the assumption that interest rates would fall to 1.5 percent.


Peter Haller

Peter Haller

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

July

No change

August

No change

The inflation rate is sufficiently high to permit the RBA to stay on hold for now.


Shane Garrett

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

July

N/A

August

Cut

Inflation is at a low level, giving the RBA more room for flexibility on rates.


Paul Bloxham

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

July

No change

August

Cut

Inflation is too low.


Alex Joiner

Alex Joiner

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

July

N/A

August

Cut

Inflation remains consistent with further easing, the question of timing is still open and the RBA may choose to delay until later in the year given the growth outlook has not deteriorated materially as yet.


Robert Montgomery

Robert Montgomery

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

July

N/A

August

Cut

The RBA will be hesitant to push the cash rate lower than it already is, however the June quarter inflation figures are well below the RBA’s target band of 2-3%, making an August rate cut likely.


Michael Witts

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

July

N/A

August

Cut

The inflation print and the slightly weaker domestic economy together with the higher AUD provides scope for the RBA to adjust the cash rate.


Leanne Pilkington

Leanne Pilkington

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

July

N/A

August

Cut

It’s a line-ball decision that really could go either way. In the end, with inflation at its weakest in nearly 20 years, we believe the RBA will move to drop the cash rate.


Nicholas gruen

Nicholas Gruen

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

July

N/A

August

No change

It's consistent with its previous hesitancy to cut even in the presence of its own forecasts of inadequate growth.


Lynne Jordan

Lynne Jordan

Forecast: Down in 2017
+ Read Lynne's full forecast

July

N/A

August

Cut

The Reserve Bank’s cash rate decision hinges on inflation, housing and labour market data – and, unfortunately, these indicators are just not leaning in the right direction to constitute a hold. The labour market has lost momentum, low wage growth is impacting consumer spending and, just this week, we’ve seen another disappointing report on inflation. RBA action and a rate cut to a new record low, is definitely on the cards in the not too distant future.


Grant Harrod

Forecast: Up in 2017
+ Read Grant's full forecast

July

N/A

August

Cut

The growth of house prices is moderating. Added to this, inflation is at very low levels and concerns around the global economy should see the RBA cut the cash rate at its August meeting.


Stephen Koukoulas

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

July

Cut

August

Cut

Low inflation and unemployment is too high.

John Caelli

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

July

No change

August

Cut

Employment data remains soft and inflation remains well below the 2-3% desired band. The Australian dollar is also stronger than what the RBA would like.


Mark Crosby

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

July

No change

August

No change

While local inflation remains low the strongest driver of rate changes should remain changes to major central bank settings in coming months.

Emily Dabbs

Forecast: Up in 2017
+ Read Emily's full forecast

July

No change

August

Cut

Inflation data for the June quarter indicates that price pressures remain weak. The RBA preferred measure of inflation remains below its 2% to 3% target range.


Jessica Darnbrough

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

July

No change

August

Cut

The latest inflation data was in line with expectations, but low by historical standards. I believe this will provide the Reserve Bank with the incentive they need to cut the cash rate for the second time this year.


Ken Sayer

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

July

No change

August

No change

We expect a drop in Sep 2016.


Chris Schade

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

July

No change

August

No change

Economic data has if anything been a little stronger than expected in recent times and overall activity remains OK. While inflation remains low, the labour market appears to be holding up well as does the housing market. These were the three key variables called out by the RBA as most important for their next rate decision in the minutes of the July Board meeting. On balance, these variables suggest the RBA will leave rates on hold, but retain an easing bias as it takes further time to see how the economy develops. That said, it will be a close call.

Alan Oster

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

July

No change

August

No change

It’s line ball decision but economy in non-mining still doing well as is the labour market. Inflation remains low but no urgency to cut unlike May.


Jonathan Chancellor

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

July

No change

August

No change

The RBA likes to set its own agenda, not follow the herd mentality.


Matthew Peter

Forecast: Down in 2017
+ Read Matthew's full forecast

July

No change

August

Cut

The Q2 inflation outturn is consistent with RBA forecasts, which sees inflation remaining below the target band for an extended period. Risks around the flow-on effect of BREXIT, potential slowdown in China, threat to international trade agreements and geopolitical risks pose sufficient reasons for the RBA to cut.


Noel Whittaker

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

July

No change

August

No change

No urgent need to drop.


Angus Raine

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

July

No change

August

No change

The recent Federal election wait and see approach.


Saul Eslake

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

July

No change

August

No change

Because Q2 inflation wasn't materially lower than the RBA had anticipated when it revised its forecasts after the Q1 result (the revision which prompted the most recent rate cut in May), and because other data released since the July Board meeting haven't warranted any downward revisions to the RBA's assessment of the outlook for economic growth. There are downside risks to the outlook for growth and inflation, but the RBA would be better advised holding what "firepower" it still has for a time when the case for using it is stronger.


Christine Williams

Christine Williams

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

July

N/A

August

No change

Stable employment market, confirmation of government, and stabilised growth in the overall Australian market.


Janu Chan

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

July

No change

August

No change

Inflation is very low, but it is in line with expectations. If they wanted to follow up the May rate cut with another, they would have done so in June or provided a stronger indication that they were close to cutting. The low inflation outlook keeps alive the chances of a rate cut this year, but given recent RBA commentary, they do not seem to be in a position to lower rates just yet.


Stephen Milch

Steven Milch

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

July

N/A

August

Cut

Persistently below target inflation.


Scott Haslem

Forecast: Up in 2017
+ Read Scott's full forecast

July

N/A

August

Cut

The issue for the RBA is whether Q2's 'in line' inflation is low enough to out-work the 'implied' 25bp cut in their May SoMP forecasts, or whether the post-UK-leave resilience of both financial markets & global confidence, and the strong dataflow in the US & domestically, leaves the RBA drifting away from their clearer easing bias at the July meeting, back to their 'neutral' post May cut stance. On balance, we believe Q2's CPI is enough to get the RBA across the line for a (final) cut in August, but the lack of downward surprise, & better recent data, makes this a close call.


Nicki Hutley

Forecast: Up in 2017
+ Read Nicki's full forecast

July

No change

August

Cut

Inflation is significantly below the Bank's target.


Bill Evans

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

July

No change

August

Cut

N/A

Other experts on the panel

Garry Shilson Josling

July

No change

August

N/A

June quarter inflation data was not low enough to make an RBA rate cut certain, particularly given that recent economic data has been reasonably good. However, on balance we expect that the RBA will move again to help ensure that inflation expectations do not become entrenched below 2% as has been the case in several other countries, so that there is reasonable confidence that inflation will move back into the target zone in a reasonable time frame and to head off a rebound in the $A that will likely follow if it doesn’t cut again.


Melissa Browne

July

N/A

August

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

July

N/A

August

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

July

N/A

August

N/A

The cuts are coming… just not this month.


Chris Caton

July

No change

August

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.


Savanth Sebastian

July

No change

August

N/A

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


Paul Ryan Eccho Me

Paul Ryan

July

N/A

August

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

July

N/A

August

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.


Jason Spencer

July

No change

August

N/A

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


Peter Jones

July

N/A

August

N/A

​There is sufficient stimulus.


Lisa Montgomery

July

N/A

August

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

July

N/A

August

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

July

N/A

August

N/A

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


Effie Zahos

July

N/A

August

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

July

N/A

August

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

July

N/A

August

N/A

Uncertainty in the equity markets and slowing property price growth.


Linda Janice Phillips

July

N/A

August

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

July

No change

August

N/A

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


Angelo Malizis

July

N/A

August

N/A

No economic reason to move at this stage.


David Scutt

July

N/A

August

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

July

N/A

August

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

July

N/A

August

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

July

N/A

August

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.


Read our coverage of recent RBA announcements

August 2016

July 2016

June 2016

May 2016

April 2016

March 2016

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



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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.

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 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%.

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.


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 August 29th, 2016
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Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Product nameInterest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
3.64% 3.64% $0 $0 p.a. 80% Go to site More info
HSBC Home Value Loan - Home Sweet Home (Owner Occupier)
Pay $0 application fee and borrow up to 90% LVR with LMI.
3.73% 3.75% $0 $0 p.a. 90% 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.
3.85% 4.21% $0 $375 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
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)
A fixed rate package loan with flexible repayments options. 250,000 Velocity Frequent Flyer point offer, conditions apply.
3.75% 4.87% $0 $395 p.a. 95% 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. 80% Go to site More info
IMB Budget Home Loan - LVR <80% (Owner Occupier)
A competitive budget rate without any unwanted bells and whistles.
3.87% 3.92% $445 $0 p.a. 80% Go to site More info
CUA Fresh Start Basic Variable Home Loan - Owner Occupier
A basic mortgage available only to customers who switch their everyday banking to CUA.
3.89% 3.94% $600 $0 p.a. 80% 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 Bank 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.
3.79% 4.20% $0 $395 p.a. 80% Go to site More info
IMB Accelerator Home Loan  - LVR <=80% $300k+ (Owner Occupier)
A two year discounted rate which reverts to an ongoing life of loan discount afterwards.
3.64% 4.39% $445 $0 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
ME Bank Basic Home Loan - LVR <=80% Owner Occupier
A low variable rate loan with no application or ongoing fees.
3.99% 4.01% $0 $0 p.a. 80% Go to site More info
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.
3.69% 4.75% $0 $0 p.a. 95% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed ($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 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
AMP Essential Home Loan  -  Owner Occupier
Take advantage of a redraw facility, competitive variable rate and no application or settlement fees for a limited time.
3.98% 4.00% $350 $0 p.a. 90% Go to site More info
Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier)
A competitive rate, partial offset account and redraw facility. NSW, QLD and ACT residents only.
3.89% 3.89% $0 $0 p.a. 85% Go to site More info
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier)
A competitive 3 year fixed rate with no ongoing bank fees.
3.69% 3.92% $395 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier)
Get a short term fixed rate for that investment property with no application or ongoing fees.
3.69% 4.87% $0 $0 p.a. 95% Go to site More info
3.96% 4.61% $600 $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.
3.99% 4.02% $600 $0 p.a. 90% Go to site More info
Heritage Bank Advantage Package - Standard Variable $700,000 + (Owner Occupier)
A package loan with a competitive interest rate and 100% offset account.
3.79% 4.16% $0 $350 p.a. 95% 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% 4.32% $0 $395 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. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.10% 4.14% $0 $0 p.a. 95% 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
3.79% 3.79% $0 $0 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.
4.09% 4.09% $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% 4.78% $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.
3.79% 4.68% $0 $0 p.a. 95% Go to site More info
CUA Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier)
Lock in a competitive rate for three year with CUA.
3.99% 4.56% $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.
4.40% 4.79% $0 $395 p.a. 95% Go to site More info
Liberty Financial Star Home Loan - LVR ≤ 70% (P&I)
A competitive variable rate with 100% offset account and no application fees.
3.79% 4.10% $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% 5.02% $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% 5.06% $600 $10 monthly ($120 p.a.) 95% More info
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.
3.75% 4.08% $0 $0 p.a. 95% More info
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%.
3.98% 3.99% $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%.
3.64% 4.33% $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% 5.03% $0 $395 p.a. 95% More info
3.75% 5.03% $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.
3.75% 4.85% $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 August 29th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ME Online Savings Account
Ongoing, variable 3.10% p.a. variable rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.
3.10% 1.30% 1.80% $0 $0 / $0 Open More
ING DIRECT Savings Maximiser
Ongoing, variable 2.75% 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.
2.75% 1.75% 1.00% $0 $0 / $0 Open More
RaboDirect High Interest Savings Account
Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 2.05% p.a. Available on balances below $250,000.
3.00% 2.05% 0.95% $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
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 a rate of 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 2.25% 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 Open More
St.George Maxi Saver
Introductory rate of 3.20% p.a. for 3 months, reverting to a rate of 1.25% p.a. Available on balances below $5,000,000.
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 a rate of 1.25% p.a. Available on the entire balance.
3.20% 1.25% 1.95% $0 $1 / $1 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 each month and no withdrawals. Available on the entire balance.
2.10% 0.01% 2.09% $0 $0 / $0 Open More
Bank of Melbourne Incentive Saver
Ongoing, variable 2.10% p.a. when you make at least one deposit and no withdrawals each month. Available on the entire balance.
2.10% 0.01% 2.09% $0 $0 / $1 Open More
ANZ Progress Saver
Ongoing, variable 2.01% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on balances up to $5,000,000.
2.01% 0.01% 2.00% $0 $10 / $10 Open More
Westpac Reward Saver
Ongoing, variable 2.10% p.a. when you deposit at least $50 and make no withdrawals each month. 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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