RBA Official Cash Rate - Australia Australian Central Bank interest rate

This page shows the current and historic values of the Official Cash Rate (Cash Rate Target) as set by the Australian Central Bank (Reserve Bank of Australia, RBA). The Official Cash Rate is often regarded as the most important interest rate of the RBA.

The current interest rates of more central banks

Current RBA Official cash rate
4.35 %
4.10 %
3.85 %
3.60 %
3.35 %
3.10 %
2.85 %
2.60 %
2.35 %
1.85 %

Chart RBA Official cash rate

Historical interest rates

Our content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.

Reserve Bank of Australia (RBA)

The Reserve Bank of Australia (RBA) is the Australian central bank. The RBA's most important task is to set the monetary policy for Australia. The aim of this policy is to achieve low and stable inflation in the medium term. Other important responsibilities of the RBA are:

  • to maintain financial stability and the stability of the Australian dollar;
  • to contribute to the economic development and wealth of the inhabitants of Australia;
  • to act as banker for the Australian government;
  • to issue Australian currency (Australian dollar);
  • to manage Australia's foreign currency reserves.

Cash Rate Target

When reference is made to the Australian interest rate this often refers to the Cash Rate Target, also called the official cash rate (OCR) or cash rate. This is the Australian base rate. Banks pay this interest rate when they take out a loan with a maturity of 1 day from another bank. By buying or selling bonds and other securities issued by the government the RBA can influence the money supply and thus the cash rate target.

A rise or fall in the Cash Rate Target often also leads to a change in the interest rates for mortgages, loans and savings. It will often also affect the exchange rate of the Australian dollar.