RBA cash rate and Australian interest rates: 4.60%
The Reserve Bank of Australia cash rate is 4.60% as at November 2026. Here is what it means for Australian home loan rates and your repayments, tied to live data across 50+ lenders, rates as at 20 October 2026.
What is the interest rate in Australia right now?
Australia's official interest rate is the Reserve Bank of Australia cash rate, 4.60% as at November 2026. On 29 September 2026, the RBA lifted the cash rate by 25 basis points to 4.60%. The next Reserve Bank board decision is scheduled for 3 November 2026. Home loan rates sit above the cash rate, and Ratesniffers tracks how the 50+ lenders it compares pass each RBA move through to borrowers.
Next RBA cash rate decision: 3 Nov 2026, 2:30 pm AEDT
The next decision is not yet incorporated on this page. Last verified decision: the RBA lifted the cash rate by 25 basis points to 4.60% on 29 September 2026.
Official source: Statement by the Monetary Policy Board: Monetary Policy Decision, 29 September 2026 · Next meeting: 3 Nov 2026, 2:30 pm AEDT
How many lenders are below 6.00% on comparison rate today?
As at 20 October 2026, 0 of the 30 lenders on the Ratesniffers verified owner-occupier variable panel at 80% LVR show a comparison rate below 6.00%. The lowest interest rate on that panel is 6.18% p.a. from Bank of China, with a 6.36% comparison rate. Snapshot rs-rates-2026-10-20-8bad87012426a609.
How fast do lenders pass on an RBA change?
Ratesniffers measures pass-through as the time between the RBA announcement and each lender's effective date for a variable-rate change, using lender announcements only. Since the RBA decision of 29 September 2026, 23 of the 30 lenders on the Ratesniffers panel dated 20 October 2026 have announced a change; the median time from decision to effective date is 10 days.
Owner-occupier variable panel snapshot
Panel snapshot dated 20 October 2026. The 3 November 2026 RBA decision is not yet incorporated.
Panel: Statistics cover verified owner-occupier and investor products available at 80% LVR from the tracked lender panel. Each displayed interest rate must exactly match its current verified rate slot. Source as of 20 October 2026. Snapshot rs-rates-2026-10-20-8bad87012426a609.
Lender pass-through tracker since the 29 September 2026 decision
23 of 30 panel lenders have an observed announcement since the decision. Lenders without one are shown as no change observed, not as pending.
| Lender | Current variable rate | Last announced change | Effective date | Status | Decision to effective |
|---|---|---|---|---|---|
| Queensland Country Bank | 6.24% p.a. (6.24% comparison rate) | None observed | n/a | No change observed | n/a |
| The Capricornian | 6.24% p.a. (6.28% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| BCU Bank | 6.29% p.a. (6.29% comparison rate) | Up 25 bps, variable home-loan rates | 13 October 2026 | Effective | 14 days |
| People First Bank | 6.34% p.a. (6.34% comparison rate) | Up 25 bps, variable home-loan rates | 13 October 2026 | Effective | 14 days |
| QBANK | 6.34% p.a. (6.34% comparison rate) | Up 25 bps, variable home-loan rates | 15 October 2026 | Effective | 16 days |
| Hume Bank | 6.34% p.a. (6.35% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank of China | 6.18% p.a. (6.36% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank Australia | 6.39% p.a. (6.39% comparison rate) | Up 25 bps, variable home-loan rates | 15 October 2026 | Effective | 16 days |
| Beyond Bank Australia | 6.39% p.a. (6.42% comparison rate) | None observed | n/a | No change observed | n/a |
| Auswide Bank Ltd | 6.44% p.a. (6.46% comparison rate) | None observed | n/a | No change observed | n/a |
| Australian Military Bank | 6.44% p.a. (6.47% comparison rate) | Up 25 bps, variable home-loan rates | 15 October 2026 | Effective | 16 days |
| Firefighters Mutual Bank | 6.44% p.a. (6.48% comparison rate) | Up 25 bps, variable home-loan rates | 8 October 2026 | Effective | 9 days |
| Health Professionals Bank | 6.44% p.a. (6.48% comparison rate) | Up 25 bps, variable home-loan rates | 8 October 2026 | Effective | 9 days |
| Teachers Mutual Bank | 6.44% p.a. (6.48% comparison rate) | Up 25 bps, variable home-loan rates | 8 October 2026 | Effective | 9 days |
| UniBank | 6.44% p.a. (6.48% comparison rate) | Up 25 bps, variable home-loan rates | 8 October 2026 | Effective | 9 days |
| Great Southern Bank | 6.49% p.a. (6.53% comparison rate) | Up 25 bps, variable home-loan rates | 7 October 2026 | Effective | 8 days |
| AFG Home Loans Alpha | 6.54% p.a. (6.54% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| MyState Bank | 6.44% p.a. (6.55% comparison rate) | Up 25 bps, variable home-loan rates | 8 October 2026 | Effective | 9 days |
| Macquarie Bank Limited | 6.34% p.a. (6.57% comparison rate) | Up 25 bps, variable home-loan rates | 15 October 2026 | Effective | 16 days |
| Credit Union SA | 6.34% p.a. (6.70% comparison rate) | None observed | n/a | No change observed | n/a |
| ANZ | 6.79% p.a. (6.79% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| Bankwest | 6.49% p.a. (6.85% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| CommBank | 6.74% p.a. (6.87% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| Hejaz Financial Services | 6.55% p.a. (6.90% comparison rate) | None observed | n/a | No change observed | n/a |
| AFG Home Loans - Bright | 6.84% p.a. (7.00% comparison rate) | Up 25 bps, variable home-loan rates | 6 October 2026 | Effective | 7 days |
| Resimac | 6.74% p.a. (7.01% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| Westpac | 6.74% p.a. (7.10% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| AFG Home Loans - Align | 7.23% p.a. (7.28% comparison rate) | Up 25 bps, variable home-loan rates | 6 October 2026 | Effective | 7 days |
| National Australia Bank | 7.24% p.a. (7.36% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
| AFG Home Loans - Options | 7.34% p.a. (7.49% comparison rate) | Up 25 bps, variable home-loan rates | 9 October 2026 | Effective | 10 days |
Method: the cash rate and every panel rate above come from the Ratesniffers /rates.json payload, snapshot rs-rates-2026-10-20-8bad87012426a609, source as of 20 October 2026, published 20 Oct 2026, 12:36 pm AEDT. The decision itself is taken only from the linked RBA release. Lender movements are observed announcements, never inferred. This block is not rendered when the payload is missing or fails validation. Rendered 1 Nov 2026, 9:39 pm AEDT.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
Free to cite with attribution to Ratesniffers. Data at /rates.json and /media/rate-report.
How fast each lender passed on every 2026 rise, with the fastest and slowest ranked: home loan rate change tracker. Every RBA decision since 1990 is on the RBA cash rate history. What the big four forecast next, scored against each decision: rate forecast scorecard. CommBank, Westpac, NAB and ANZ rates side by side, with the dollar cost of the gap between them: big four home loan rates compared. Whether rates are likely to fall in 2026, and which bank calls have actually been right so far: will rates drop in 2026?
What is the RBA cash rate?
The cash rate is the interest rate the Reserve Bank of Australia targets for overnight loans between banks. It is the RBA's main lever for managing inflation and the economy. When the cash rate rises, banks' funding costs rise and variable home loan rates typically follow; when it falls, variable rates usually ease. The cash rate is currently 4.60%.
How the cash rate affects your home loan
Across the 50+ lenders Ratesniffers tracks, the average owner-occupier variable home loan rate is 6.54%, about 194 basis points above the 4.60%cash rate. That spread is the banks' margin plus funding and risk costs. On a $600,000 owner-occupier loan over 30 years, that average rate works out to roughly $3,808 a month in principal and interest, but the lowest rate on our comparison table (6.18%) saves materially on the same loan.
Updated 20 October 2026. Cash rate sourced from the RBA; mortgage rates from our daily index. Worked example is indicative only.
See our coverage of a recent RBA hold decision and what it meant for borrowers.
What do the big four banks predict?
The big four had moved closer together after the stronger-than-expected July 2026 inflation result. On 29 September 2026, the RBA lifted the cash rate by 25 basis points to 4.60%. NAB and CommBank have both now published a post-decision view: each expects the cash rate to hold from here, while flagging the risk of a further rise. Westpac's table entry is still its dated pre-decision call, a November rise after reversing its earlier no-change call, and ANZ's latest call published on its own site remains an extended hold, with industry press reporting a shift to November. Each call below is sourced from that bank's own research team and dated.
| Bank | Their call | As at |
|---|---|---|
| CommBank | After the RBA's confirmed 25 basis point rise to 4.60% at its 28 to 29 September 2026 meeting, forecasts the cash rate to hold from here. Head of Australian Economics Belinda Allen flagged the clear risk is another hike, with a November move very much live and around 30% priced in by markets CommBank Global Economic & Markets Research | 13 October 2026 |
| NAB | After the RBA's confirmed 25 basis point rise to 4.60% at its 28 to 29 September 2026 meeting, continues to forecast the RBA on hold, with the risk that further tightening may be required. Puts the cash rate peak at 4.60% NAB Group Economics | 30 September 2026 |
| Westpac | Before the decision, forecast a 25 basis point rise to 4.60% at the 2 to 3 November 2026 meeting as its base case, reversing its earlier call of no further 2026 rises. Chief Economist Luci Ellis pointed to more resilient household incomes and a bigger-than-expected data centre investment boom, while flagging that the RBA could act as early as September. This dated call does not establish Westpac's post-decision view on November Westpac Economics | 9 September 2026 |
| ANZ | Before the decision, its latest call published on its own site was an extended hold at 4.35% through August and beyond; industry press continued to report that ANZ expected a November rise, still not confirmed on anz.com. This dated call does not establish ANZ's post-decision view ANZ Research Stale call. Forecast published 7 May 2026, 178 days before this page was last rebuilt. It predates one RBA cash rate change: the 30 September 2026 rise to 4.60%. Shown as historical context only, not as the bank's current view. | 7 May 2026 stale |
Each forecast is that bank's own published call, not Ratesniffers' view. Forecasts are opinions, not guarantees, banks revise them between RBA meetings as new data lands.
Cash rate FAQ
What is the current RBA cash rate?
The RBA cash rate is 4.60% as at November 2026. The cash rate is the interest rate the Reserve Bank of Australia sets at its board meetings; it anchors what banks charge on variable home loans.
When is the next RBA cash rate decision?
The next Reserve Bank board decision is scheduled for 3 November 2026. The board announces its cash rate decision at 2:30pm AEST on the second day of the meeting. On 29 September 2026, the RBA lifted the cash rate by 25 basis points to 4.60%.
What did the big four banks predict before the 29 September RBA decision?
On 29 September 2026, the RBA lifted the cash rate by 25 basis points to 4.60%. Before that decision, NAB and CommBank forecast the September rise, with NAB flagging the risk of another rise in November and CommBank still seeing cuts in 2027. Westpac's base case was a November rise, reversing its earlier no-change call. ANZ's latest call published on its own site was an extended hold, while industry press reported a shift to November. These dated pre-decision calls do not establish any bank's post-decision forecast.
How does the cash rate affect my home loan?
Variable home loan rates move broadly with the cash rate. Right now the average owner-occupier variable rate across the lenders Ratesniffers tracks is 6.54%, about 194 basis points above the 4.60% cash rate. When the RBA moves, most lenders pass the change through within weeks.
What does the current cash rate mean for repayments?
At the current average variable rate of 6.54%, a $600,000 owner-occupier loan over 30 years costs roughly $3,808 a month in principal and interest. A sharper rate from the comparison table lowers that materially.
See live rates against the 4.60% cash rate
Compare every lender's rate, rates as at 20 October 2026, and see the full rate statistics.