The cash rate is the interest rate on unsecured overnight loans between banks. The Reserve Bank sets a target for it at its Monetary Policy Board meetings, and any change takes effect the day after the decision is announced.
What it means for property finance
Banks and other lenders consider the cash rate when they set their own rates, but it is only one input. Private lenders price each loan around their own cost of funds, the security, the loan-to-value ratio, the term and the exit. Government bodies do not publish private lenders' rates, so Privet does not either.
Use the cash rate as context when you read an offer, not as a guide to what any lender will charge. Our cost estimator uses the rate and fees you enter from an actual offer.
Recent changes
Change history
| Date | Figure | Old | New | Source |
|---|---|---|---|---|
| 30 September 2026 | RBA cash rate target | 4.35 | 4.6 | RBA |
| 6 May 2026 | RBA cash rate target | 4.1 | 4.35 | RBA |
| 18 March 2026 | RBA cash rate target | 3.85 | 4.1 | RBA |
| 4 February 2026 | RBA cash rate target | 3.6 | 3.85 | RBA |
| 13 August 2025 | RBA cash rate target | 3.85 | 3.6 | RBA |
| 21 May 2025 | RBA cash rate target | 4.1 | 3.85 | RBA |
| 19 February 2025 | RBA cash rate target | 4.35 | 4.1 | RBA |
| 8 November 2023 | RBA cash rate target | 4.1 | 4.35 | RBA |
Full history: Cash Rate Target (RBA).
Sources
- [1]Reserve Bank of Australia, Cash Rate Target. https://www.rba.gov.au/statistics/cash-rate/Retrieved 11 October 2026 · Effective 30 September 2026