About

RBA keeps interest rates on hold again

Share
The RBA is Australia's central bank. Its key responsibility is setting the 'cash rate' — an interest rate it charges commercial banks for short-term loans.
rba interest rates on hold

The Reserve Bank of Australia (RBA) has announced it will keep interest rates on hold at 4.35%.

It’s the third RBA decision in a row where the cash rate has stayed the same, after interest rates rose for 10 consecutive months over 2022 and 2023.

In a statement, the RBA said it’s encouraged by easing inflation (rising prices). However, it added that other parts of the economy remain “highly uncertain”.

About the RBA

The RBA is Australia’s central bank. Its key responsibility is setting the ‘cash rate‘ — an interest rate it charges commercial banks for short-term loans.

This rate influences the cost of borrowing across the economy, so changes to the cash rate are often called changes to ‘interest rates’.

The RBA has regularly raised interest rates over the last two years to fight rising prices (inflation). The current cash rate is 4.35%. It was 0.10% at the start of 2022.

RBA’s decision to hold interest rates, in context

Here’s how interest rates have changed since May 2022.

rba interest rates on hold

Become smarter in three minutes

Get the daily email that makes reading the news actually enjoyable. Stay informed, for free.

Be the smart friend in your group chat

Join thousands of young Aussies and get our 5 min daily newsletter on what matters in your world.

It’s easy. It’s trustworthy. It’s free.