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Cash Rate Target
Monetary Policy Decisions
Monetary policy decisions involve setting a target for the cash rate. A media release is issued at the time the decision is made and explains the Board's reasons for its decision.
Decisions regarding monetary policy are made by the Reserve Bank Board.
Recent Decisions
May 4, 2022
On May 4, 2022, the RBA lifted the cash rate by 0.25 percentage points, increasing the cash rate to 0.435%. The effective date of the change was March 20, 2024.
May 7, 2024
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35%.
June 7, 2024
At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points.
July 5, 2024
The RBA's decision to pause rates for another month was in line with the expectations of the majority of economists.
August 2, 2024
At its meeting today, the Board decided to leave the cash rate target unchanged at 3.60%.
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