Australia interest rate
Reserve Bank of Australia
- Policy rate
- 4.35%
- Sep 17, 2026
- Last move
- +0.25 pt
- May 2026
- Inflation
- 3.5%
- Jul 2026
- 10-year bond yield
- 5.01%
- Aug 2026
The policy rate set by the Reserve Bank of Australia is 4.35% as of Sep 17, 2026. Its most recent move: it raised its rate from 4.10% to 4.35% (May 2026). The rate is 0.75 percentage points higher than a year earlier. With consumer prices up 3.5% over the 12 months to Jul 2026, the real rate (policy rate minus inflation) is +0.9%: borrowing costs are above inflation.
Policy rate over the past two years
Sep 17, 2026: 4.35%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| May 2026 | Hike | 4.10% | 4.35% | +0.25 pt |
| Mar 2026 | Hike | 3.85% | 4.10% | +0.25 pt |
| Feb 2026 | Hike | 3.60% | 3.85% | +0.25 pt |
| Aug 2025 | Cut | 3.85% | 3.60% | −0.25 pt |
| May 2025 | Cut | 4.10% | 3.85% | −0.25 pt |
| Feb 2025 | Cut | 4.35% | 4.10% | −0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Jul 2026: 3.5%
10-year government bond yield
Aug 2026: 5.01%
Other central banks in Oceania
Source: BIS; inflation: IMF CPI; bond yield: OECD. Updated daily. All central bank rates · Australia economy dashboard