The RBA has raised the cash rate to 4.35 per cent, its third hike this year and the highest level since November 2023.
The board voted 8-1 in favour of the move – a decisive shift from the 5-4 split in March. The lone dissenter voted to hold at 4.10 per cent.
The bank cited higher fuel prices flowing from the Middle East conflict, along with signs that cost pressures are beginning to spread into broader goods and services pricing.
Stay up to date with our live RBA cash rate tracker below.
RBA cash rate tracker
Decision in · +25bp to 4.35%
4.35%
Current cash rate
3.8%
Headline inflation
2–3%
RBA target band
4.1%
Unemployment rate
Cash rate history 2023–2026
Hike
Cut
Hold
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