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RBA Cash Rate Today

The Reserve Bank of Australia's cash rate is 4.60%. The RBA last raised it by 0.25 point, with effect from 30 September 2026. Australian inflation was 3.9% (over the year to the June 2026 quarter), so the real cash rate is 0.70%. Gold in Australian dollars is down 4.6% since that decision. Next decision: Tuesday 3 November 2026.

RBA cash rate
4.60%
+25 bp from Sep 30, 2026
Australian inflation
3.9%
year to Jun 2026 quarter · real rate 0.70%
Next decision
Tue 3 Nov
2:30 pm Sydney time · in 7 days
Gold in AUD since last move
−4.6%
A$5,714/oz · $1 = A$1.4229
10-year bond yield
5.28%
Australian Government, Oct 21
RBA gold reserves
A$15.4bn
Sep 2026 · ≈79.4 t

RBA cash rate and gold in AUD since 1990

weekly · gold /oz on a log scale (right)
0% 5% 10% 15% 20% A$500A$1,000A$2,000A$5,000 19901995200020052010201520202025
RBA cash rateGold in AUD /oz (right scale)

RBA Rate Cycles Since 1990 and Gold in Australian dollars

Runs of RBA hikes or cuts (a gap of two years or more starts a new run), and how gold did in AUD (our calculations).

CycleFrom → toMovesGold during12 months after the first move
Hikes Feb 2026–Sep 2026 3.60% → 4.60% 4 (+100 bp) −14.8% so far −19.1%
Cuts Feb 2025–Aug 2025 4.35% → 3.60% 3 (−75 bp) +12.1% +50.6%
Hikes May 2022–Nov 2023 0.10% → 4.35% 13 (+425 bp) +16.4% +18.0%
Cuts Jun 2019–Nov 2020 1.50% → 0.10% 6 (−140 bp) +40.2% +27.4%
Cuts Nov 2011–Aug 2016 4.75% → 1.50% 12 (−325 bp) +12.6% +0.7%
Hikes Oct 2009–Nov 2010 3.00% → 4.75% 7 (+175 bp) +15.2% +16.9%
Cuts Sep 2008–Apr 2009 7.25% → 3.00% 6 (−425 bp) +35.6% +26.3%
Hikes May 2002–Mar 2008 4.25% → 7.25% 12 (+300 bp) +79.5% −4.5%
Cuts Feb 2001–Dec 2001 6.25% → 4.25% 6 (−200 bp) +10.5% +22.6%
Hikes Nov 1999–Aug 2000 4.75% → 6.25% 5 (+150 bp) +4.9% +12.6%
Cuts Jul 1996–Dec 1998 7.50% → 4.75% 6 (−275 bp) −5.5% −9.3%
Hikes Aug 1994–Dec 1994 4.75% → 7.50% 3 (+275 bp) −2.6% +2.2%
Cuts Feb 1990–Jul 1993 17.25% → 4.75% 14 (−1250 bp) +8.2% −14.8%
Gold in AUD is the COMEX close times AUD per US dollar (Federal Reserve H.10). Past cycles are not a forecast; compare: Fed funds rate.

Year by Year

YearRate at year-endInflation (Dec qtr)$1 in AUD at year-endGold in AUD that year
2026 (so far)4.60%3.9%1.4211−11.8%
20253.60%3.6%1.4943+53.0%
20244.35%2.4%1.6059+39.9%
20234.35%4.1%1.4635+12.4%
20223.10%7.9%1.4771+6.8%
20210.10%3.5%1.3806+0.8%
20200.10%0.9%1.3221+14.4%
20190.75%1.8%1.4411+20.7%
20181.50%1.8%1.4194+8.0%
20171.50%2.0%1.2858+5.2%
20161.50%1.5%1.3877+8.7%
20152.00%1.7%1.3845+0.7%
20142.50%1.7%1.2321+8.1%
20132.50%2.7%1.1226−15.6%
20123.00%2.2%0.9647+6.1%
20114.25%3.1%0.9843+8.3%
20104.75%2.7%0.9898+12.7%
20093.75%2.1%1.1348−3.2%
20084.25%3.7%1.4665+33.7%
20076.75%3.0%1.1444+18.7%
20066.25%3.2%1.2724+14.5%
20055.50%2.8%1.3687+25.3%
20045.25%2.6%1.2865−0.5%
20035.25%2.4%1.3537−8.8%
20024.75%3.0%1.7794+13.7%
20014.25%3.1%1.9654+10.2%
20006.25%5.8%1.7969+10.4%
Inflation: ABS consumer price index, change over the year to the December quarter (RBA table G1) (this year: the latest available). figures can be revised.
Every RBA rate change since 1990 (97)
EffectiveNew rateChangeGold in AUD that day1 month later
Sep 30, 20264.60%+25 bpA$6,022—
May 6, 20264.35%+25 bpA$6,537−3.8%
Mar 18, 20264.10%+25 bpA$6,908−3.3%
Feb 4, 20263.85%+25 bpA$7,091+2.4%
Aug 13, 20253.60%−25 bpA$5,248+6.4%
May 21, 20253.85%−25 bpA$5,164+1.7%
Feb 19, 20254.10%−25 bpA$4,659+3.1%
Nov 8, 20234.35%+25 bpA$3,059−0.7%
Jun 7, 20234.10%+25 bpA$2,992−4.2%
May 3, 20233.85%+25 bpA$3,072−1.4%
Mar 8, 20233.60%+25 bpA$2,697+11.8%
Feb 8, 20233.35%+25 bpA$2,684+0.8%
Dec 7, 20223.10%+25 bpA$2,667+4.0%
Nov 2, 20222.85%+25 bpA$2,572+4.4%
Oct 5, 20222.60%+25 bpA$2,660−1.8%
Sep 7, 20222.35%+50 bpA$2,520+6.0%
Aug 3, 20221.85%+50 bpA$2,555−2.4%
Jul 6, 20221.35%+50 bpA$2,521+0.5%
Jun 8, 20220.85%+50 bpA$2,577−0.5%
May 4, 20220.35%+25 bpA$2,625−2.2%
Nov 4, 20200.10%−15 bpA$2,681−7.9%
Mar 20, 20200.25%−25 bpA$2,504+16.1%
Mar 4, 20200.50%−25 bpA$2,499+7.3%
Oct 2, 20190.75%−25 bpA$2,218+0.2%
Jul 3, 20191.00%−25 bpA$2,029+4.7%
Jun 5, 20191.25%−25 bpA$1,919+4.5%
Aug 3, 20161.50%−25 bpA$1,817−3.9%
May 4, 20161.75%−25 bpA$1,664+1.5%
May 6, 20152.00%−25 bpA$1,502+0.8%
Feb 4, 20152.25%−25 bpA$1,606−4.2%
Aug 7, 20132.50%−25 bpA$1,424+6.7%
May 8, 20132.75%−25 bpA$1,423+3.1%
Dec 5, 20123.00%−25 bpA$1,622−3.1%
Oct 3, 20123.25%−25 bpA$1,705−4.7%
Jun 6, 20123.50%−25 bpA$1,679−6.1%
May 2, 20123.75%−50 bpA$1,592+2.6%
Dec 7, 20114.25%−25 bpA$1,714−7.0%
Nov 2, 20114.50%−25 bpA$1,656+6.9%
Nov 3, 20104.75%+25 bpA$1,371+5.1%
May 5, 20104.50%+25 bpA$1,260+12.3%
Apr 7, 20104.25%+25 bpA$1,244+7.5%
Mar 3, 20104.00%+25 bpA$1,273−3.0%
Dec 2, 20093.75%+25 bpA$1,318−6.2%
Nov 4, 20093.50%+25 bpA$1,196+10.9%
Oct 7, 20093.25%+25 bpA$1,192+1.5%
Apr 8, 20093.00%−25 bpA$1,260−3.9%
Feb 4, 20093.25%−100 bpA$1,378+2.1%
Dec 3, 20084.25%−100 bpA$1,179+4.4%
Nov 5, 20085.25%−75 bpA$1,168+1.2%
Oct 8, 20086.00%−100 bpA$1,144−3.5%
Sep 3, 20087.00%−25 bpA$935+12.8%
Mar 5, 20087.25%+25 bpA$1,042−5.9%
Feb 6, 20087.00%+25 bpA$1,012+5.0%
Nov 7, 20076.75%+25 bpA$906+1.3%
Aug 8, 20076.50%+25 bpA$789+9.1%
Nov 8, 20066.25%+25 bpA$807−0.2%
Aug 2, 20066.00%+25 bpA$862−3.0%
May 3, 20065.75%+25 bpA$896−4.5%
Mar 2, 20055.50%+25 bpA$548+0.7%
Dec 3, 20035.25%+25 bpA$557−0.6%
Nov 5, 20035.00%+25 bpA$537+2.6%
Jun 5, 20024.75%+25 bpA$571−4.1%
May 8, 20024.50%+25 bpA$577−1.8%
Dec 5, 20014.25%−25 bpA$529+1.4%
Oct 3, 20014.50%−25 bpA$591−6.9%
Sep 5, 20014.75%−25 bpA$512+13.8%
Apr 4, 20015.00%−50 bpA$525−1.0%
Mar 7, 20015.50%−25 bpA$496+6.2%
Feb 7, 20015.75%−50 bpA$479+3.7%
Aug 2, 20006.25%+25 bpA$473+2.2%
May 3, 20006.00%+25 bpA$467+5.0%
Apr 5, 20005.75%+25 bpA$460+5.4%
Feb 2, 20005.50%+50 bpA$441+7.2%
Nov 3, 19995.00%+25 bpA$451−1.1%
Dec 2, 19984.75%−25 bpA$460+2.7%
Jul 30, 19975.00%−50 bpA$444−0.7%
May 23, 19975.50%−50 bpA$442+2.1%
Dec 11, 19966.00%−50 bpA$460−0.5%
Nov 6, 19966.50%−50 bpA$478−3.6%
Jul 31, 19967.00%−50 bpA$488+0.4%
Dec 14, 19947.50%+100 bpA$494+0.6%
Oct 24, 19946.50%+100 bpA$530−4.1%
Aug 17, 19945.50%+75 bpA$508+3.5%
Jul 30, 19934.75%−50 bpA$591−5.0%
Mar 23, 19935.25%−50 bpA$468+2.9%
Jul 8, 19925.75%−75 bpA$466+2.1%
May 6, 19926.50%−100 bpA$4450.0%
Jan 8, 19927.50%−100 bpA$462+3.1%
Nov 6, 19918.50%−100 bpA$453+3.2%
Sep 3, 19919.50%−100 bpA$443+0.9%
May 16, 199110.50%−100 bpA$455+6.0%
Apr 4, 199111.50%−50 bpA$464−1.8%
Dec 18, 199012.00%−100 bpA$493−1.5%
Oct 15, 199013.00%−100 bpA$463+2.6%
Aug 2, 199014.00%−125 bpA$485−0.5%
Apr 4, 199015.25%−150 bpA$499−1.3%
Feb 15, 199016.75%−50 bpA$549−3.8%
RBA table A2: effective date of each change to the cash rate target (the target ranges set in 1990 are shown at their middle).

RBA cash rate: FAQ

What is the RBA cash rate today?

The cash rate target is 4.60%, in force since 30 September 2026. It is the interest rate the Reserve Bank of Australia sets for overnight loans between banks, and it flows through to mortgage, deposit and business rates.

When is the next RBA decision?

The RBA's Monetary Policy Board next announces its decision on Tuesday 3 November 2026 at 2:30 pm Sydney time. It meets eight times a year, over two days, and announces on the second day.

How do RBA rate decisions affect the gold price in Australia?

Gold is priced in US dollars, so the local price moves with both the world price and the exchange rate. Higher Australian rates tend to support the Australian dollar, which lowers the price of gold in A$; cuts work the other way. Australia is also one of the world's largest gold miners, so the gold price matters for the currency itself.

How much gold does the Reserve Bank of Australia hold?

The RBA's gold was valued at A$15.4 billion at the end of September 2026, about 79.4 tonnes at that month's gold price (RBA table A4, official reserve assets). Most of it is stored at the Bank of England in London.

Where do the figures come from?

The cash rate, bond yields and gold reserves from the Reserve Bank of Australia's statistical tables; inflation is the ABS consumer price index (RBA table G1). Exchange rates: Federal Reserve H.10 (via FRED). Gold in local currency is our calculation from COMEX closes; today's figure uses the live spot price.

Source: Reserve Bank of Australia (statistical tables A2, F2, A4 and G1). RBA statistical tables. Australian consumer prices: Australian Bureau of Statistics, via RBA table G1 (CC BY 4.0). Exchange rates: Federal Reserve Board H.10 via FRED. The Reserve Bank of Australia do not endorse Corgano. Gold prices are COMEX front-month futures closes; prices in AUD, cycle and yearly changes, the real rate and tonnes are Corgano's calculations.

See also: gold price in Australia · RBI repo rate · CBRT policy rate · ECB interest rate · Fed funds rate.

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APA 7
Corgano. (2026, October 27). RBA cash rate today. Corgano Gold Price. Retrieved October 27, 2026, from https://goldprice.corgano.com/rba-cash-rate
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“RBA Cash Rate Today.” Corgano Gold Price, goldprice.corgano.com/rba-cash-rate. Accessed 27 Oct. 2026.
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@misc{corgano2026rbacashratetoday, author = {{Corgano}}, title = {RBA Cash Rate Today}, howpublished = {\url{https://goldprice.corgano.com/rba-cash-rate}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}
Link
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