History
RBA Cash Rate History — Page 7
Official cash rate target decisions since 1990, with a historical chart, downloadable data and each change shown in percentage points and basis points.
Current cash rate target
4.85%
Effective 2026-11-04
Verified 2026-11-10
Recent cash rate targets
Decision targets · %
Chart scale: 3.29%–5.16%.
Each bar is a decision in date order. Focus or tap a bar to see its exact target; all values are also listed in the official record below.
Since 1990
The cash rate target over time
Source: Reserve Bank of Australia, cash rate target (CC BY 4.0). Every value is listed in the official record below. Free to reuse with attribution to the RBA.
Recent decisions
Official record
Scroll sideways to view every column.
| Date | Decision | Previous | New target | Change | Source |
|---|---|---|---|---|---|
| 3 Nov 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 6 Oct 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 1 Sept 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 4 Aug 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 7 July 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 2 June 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 5 May 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 7 Apr 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 3 Mar 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 3 Feb 1998 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 2 Dec 1997 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 4 Nov 1997 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 7 Oct 1997 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 2 Sept 1997 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 5 Aug 1997 | hold | 5.00% | 5.00% | No change | RBA decision details |
| 29 July 1997 | cut | 5.50% | 5.00% | -0.50 percentage points(-50bp) | RBA decision details |
| 1 July 1997 | hold | 5.50% | 5.50% | No change | RBA decision details |
| 3 June 1997 | hold | 5.50% | 5.50% | No change | RBA decision details |
| 22 May 1997 | cut | 6.00% | 5.50% | -0.50 percentage points(-50bp) | RBA decision details |
| 6 May 1997 | hold | 6.00% | 6.00% | No change | RBA decision details |
| 1 Apr 1997 | hold | 6.00% | 6.00% | No change | RBA decision details |
| 4 Mar 1997 | hold | 6.00% | 6.00% | No change | RBA decision details |
| 4 Feb 1997 | hold | 6.00% | 6.00% | No change | RBA decision details |
| 10 Dec 1996 | cut | 6.50% | 6.00% | -0.50 percentage points(-50bp) | RBA decision details |
| 5 Nov 1996 | cut | 7.00% | 6.50% | -0.50 percentage points(-50bp) | RBA decision details |
| 1 Oct 1996 | hold | 7.00% | 7.00% | No change | RBA decision details |
| 3 Sept 1996 | hold | 7.00% | 7.00% | No change | RBA decision details |
| 30 July 1996 | cut | 7.50% | 7.00% | -0.50 percentage points(-50bp) | RBA decision details |
| 2 July 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 4 June 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 7 May 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 2 Apr 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 5 Mar 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 6 Feb 1996 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 5 Dec 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 7 Nov 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 3 Oct 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 5 Sept 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 25 July 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 4 July 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 6 June 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 2 May 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 4 Apr 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 7 Mar 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 7 Feb 1995 | hold | 7.50% | 7.50% | No change | RBA decision details |
| 13 Dec 1994 | hike | 6.50% | 7.50% | +1.00 percentage points(100bp) | RBA decision details |
| 1 Nov 1994 | hold | 6.50% | 6.50% | No change | RBA decision details |
| 23 Oct 1994 | hike | 5.50% | 6.50% | +1.00 percentage points(100bp) | RBA decision details |
| 6 Sept 1994 | hold | 5.50% | 5.50% | No change | RBA decision details |
| 16 Aug 1994 | hike | 4.75% | 5.50% | +0.75 percentage points(75bp) | RBA decision details |
Early 1990 target ranges are omitted because they cannot be represented as a single target. See the official RBA table for those records.
Rates shown are the RBA cash rate target. A 25bp change is 0.25 percentage points — not 25 per cent.