RBA rate tracker: every lender passing on the May 2026 cash rate hike
See which banks and lenders passed on the RBA's May 2026 cash rate hike, and when.
Key takeaways
- The Reserve Bank increased the cash rate to 4.35% on 5 May 2026. It has since raised it again, to 4.60% from 30 September 2026 (see our September 2026 rate tracker).
- Home loan rates increased as a result. We tracked every lender announcement for the May 2026 hike below.
- The Big Four banks, Macquarie Bank and Virgin Money all announced 25 basis point hikes.
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Which lenders have announced a rate increase?
Search for your lender in the table below to see how it passed on the May 2026 hike.
Why the Reserve Bank raised the cash rate in May 2026
Inflation is simply too high. In the inflation statistics released just a week before the RBA's May 2026 meeting, headline inflation was 4.6% over the previous 12 months.
That's a big jump from 3.7% the previous month. The RBA wants inflation somewhere below 3%.
Why more rate increases were expected
This was the third cash rate hike of 2026, and it wasn't the last: the RBA raised the cash rate again to 4.60% from 30 September 2026. At the time of the May decision, the Iran War had sent fuel prices soaring. And while they were coming back down, the conflict seemed far from over and was likely to have long-term inflationary effects.
Housing costs were also a major driver of inflation. So more rate increases looked likely in order to finally get inflation under control.
What should I do about my home loan?
- Check your lender. Search the table above to see when your lender passed on the May 2026 increase and by how much.
- Crunch the numbers. You can look at your current home loan repayments and a repayment calculator. Estimate how much more your repayments will be with a 25 basis point increase. This helps you budget for these increases and prepare accordingly.
- Start comparing. Once your lender has passed on the rate increase, it's a good idea to start shopping around. Some lenders may be offering better deals for new customers. So even if you can't avoid rising rates completely you can still save a bit.
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