RBA Rate Watch
Track every Reserve Bank cash rate decision, see how lender rates are moving, and understand what it means for your mortgage — all in one place.
Current RBA Cash Rate
Last updated: 12 August 2026
Cycle Summary
Total Change (Cycle)
-100 bps
1.00% lower
What rate changes mean for your mortgage
Rate movements affect different borrowers in different ways. Here is what the current cycle means for the most common scenarios.
Variable-rate borrowers
With 1.00% of cumulative cuts, variable-rate borrowers should see lower repayments — but not all lenders pass on cuts in full. A Loan Health Check reveals whether yours has.
Fixed-rate borrowers
If your fixed term is expiring soon, the current rate environment offers an opportunity to lock in lower rates or switch to a competitive variable product. Timing matters.
Buyers & investors
Lower rates improve borrowing capacity. If you have been waiting on the sidelines, now may be the time to get pre-approved and enter the market with stronger purchasing power.
RBA meeting decisions
Held. Unemployment steady at 4.2%, services inflation easing slowly.
Held steady. GDP growth modest at 1.8%. Board signalled patience.
Held. Board assessing cumulative 100bp of cuts and impact on household spending.
Fourth cut. Core inflation at 2.4%, within target. Housing market responding moderately.
Held following December cut. Board waiting on Q4 CPI and employment data.
Third cut of the cycle. Trimmed mean inflation at 2.6%, unemployment ticking up to 4.3%.
Held. Board noted need for more data before further easing.
Board held. Underlying inflation trending down but services inflation still sticky.
Held steady. Labour market resilient but wages growth moderating.
Rates held. Board watching employment data and quarterly CPI due in late July.
Board paused to assess the impact of two consecutive cuts on housing and services inflation.
Second 25bp cut. Trimmed mean inflation back within 2-3% target band.
Board held rates steady, noting uncertainty around global trade tensions.
First cut since November 2020. Board cited easing inflation and softening labour market.
Cash rate decisions are sourced from Reserve Bank of Australia announcements. This page is updated after each scheduled RBA Board meeting.
Is your rate still competitive?
Rate changes create opportunities. A free, no-obligation Loan Health Check benchmarks your current loan against 40+ lenders and shows exactly how much you could save.
- Takes about 15 minutes
- No cost for most residential home loans
- CPA-certified advice — rate + structure + tax
Free Loan Health Check
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