RBA cash rate Australia: 4.35%
The Reserve Bank of Australia cash rate is 4.35% as at September 2026. Here is what it means for Australian home loan rates and your repayments, tied to live data across 85+ lenders, rates as at 27 August 2026.
Next RBA cash rate decision: 29 Sept 2026, 2:30 pm AEST
The next decision is not yet incorporated on this page. Last verified decision: the RBA held the cash rate at 4.35% on 11 August 2026.
Official source: Statement by the Monetary Policy Board: Monetary Policy Decision, 11 August 2026 · Next meeting: 29 Sept 2026, 2:30 pm AEST
How many lenders are below 6.00% on comparison rate today?
As at 27 August 2026, 0 of the 26 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 5.93% p.a. from Bank of China, with a 6.11% comparison rate. Snapshot rs-rates-2026-08-27-ef395452d9ebaefd.
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 11 August 2026, no lender on the Ratesniffers panel dated 27 August 2026 has announced a change, so no pass-through timing is reported.
Owner-occupier variable panel snapshot
Panel snapshot dated 27 August 2026. The 29 September 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 27 August 2026. Snapshot rs-rates-2026-08-27-ef395452d9ebaefd.
Lender pass-through tracker since the 11 August 2026 decision
No lender announcement has been observed since the RBA decision of 11 August 2026. Every panel lender is shown as no change observed, not as pending.
| Lender | Current variable rate | Last announced change | Effective date | Status | Decision to effective |
|---|---|---|---|---|---|
| People First Bank | 6.09% p.a. (6.09% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank of China | 5.93% p.a. (6.11% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank Australia | 5.95% p.a. (6.14% comparison rate) | None observed | n/a | No change observed | n/a |
| AFG Home Loans Alpha | 6.14% p.a. (6.14% comparison rate) | None observed | n/a | No change observed | n/a |
| Suncorp Bank | 6.18% p.a. (6.18% comparison rate) | None observed | n/a | No change observed | n/a |
| Auswide Bank Ltd | 6.19% p.a. (6.21% comparison rate) | None observed | n/a | No change observed | n/a |
| Australian Military Bank | 6.19% p.a. (6.22% comparison rate) | None observed | n/a | No change observed | n/a |
| MyState Bank | 6.19% p.a. (6.22% comparison rate) | None observed | n/a | No change observed | n/a |
| Great Southern Bank | 6.24% p.a. (6.28% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank of Sydney | 6.19% p.a. (6.31% comparison rate) | None observed | n/a | No change observed | n/a |
| Macquarie Bank Limited | 6.09% p.a. (6.32% comparison rate) | None observed | n/a | No change observed | n/a |
| Credit Union SA | 6.14% p.a. (6.51% comparison rate) | None observed | n/a | No change observed | n/a |
| Firefighters Mutual Bank | 6.29% p.a. (6.57% comparison rate) | None observed | n/a | No change observed | n/a |
| Health Professionals Bank | 6.29% p.a. (6.57% comparison rate) | None observed | n/a | No change observed | n/a |
| Teachers Mutual Bank | 6.29% p.a. (6.57% comparison rate) | None observed | n/a | No change observed | n/a |
| UniBank | 6.29% p.a. (6.57% comparison rate) | None observed | n/a | No change observed | n/a |
| HSBC | 6.24% p.a. (6.60% comparison rate) | None observed | n/a | No change observed | n/a |
| Bank of Melbourne | 6.39% p.a. (6.75% comparison rate) | None observed | n/a | No change observed | n/a |
| BankSA | 6.39% p.a. (6.75% comparison rate) | None observed | n/a | No change observed | n/a |
| St.George Bank | 6.39% p.a. (6.75% comparison rate) | None observed | n/a | No change observed | n/a |
| Bankwest | 6.49% p.a. (6.85% comparison rate) | None observed | n/a | No change observed | n/a |
| CommBank | 6.49% p.a. (6.85% comparison rate) | None observed | n/a | No change observed | n/a |
| Westpac | 6.49% p.a. (6.85% comparison rate) | None observed | n/a | No change observed | n/a |
| AFG Home Loans - Align | 6.98% p.a. (7.03% comparison rate) | None observed | n/a | No change observed | n/a |
| National Australia Bank | 6.99% p.a. (7.12% comparison rate) | None observed | n/a | No change observed | n/a |
| AFG Home Loans - Options | 7.09% p.a. (7.24% comparison rate) | None observed | n/a | No change observed | n/a |
Method: the cash rate and every panel rate above come from the Ratesniffers /rates.json payload, snapshot rs-rates-2026-08-27-ef395452d9ebaefd, source as of 27 August 2026, published 5 Sept 2026, 9:30 pm AEST. 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 11 Sept 2026, 10:17 pm AEST.
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.
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 4.35%.
How the cash rate affects your home loan
Across the 85+ lenders Ratesniffers tracks, the average owner-occupier variable home loan rate is 6.33%, about 198 basis points above the 4.35%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 $3,726 a month in principal and interest, but the lowest rate on our comparison table (5.93%) saves materially on the same loan.
Updated 27 August 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 have moved closer together since the stronger-than-expected July 2026 inflation result. NAB expects a rise at the 29 September meeting, while CommBank and Westpac both now expect the rise to land in November, with Westpac having reversed its earlier no-change call. ANZ's most recent call published on its own site was a hold, with industry press reporting a shift to November since. Each call below is sourced from that bank's own research team, dated, and can change before their next published update.
| Bank | Their call | As at |
|---|---|---|
| CommBank | Expects a 25 basis point rise to 4.60% at the 2 to 3 November 2026 meeting after a stronger-than-expected July inflation result, with an earlier move in September possible; still expects rate cuts in 2027 CommBank Global Economic & Markets Research | 27 August 2026 |
| NAB | Expects a 25 basis point rise to 4.60% at the 29 September 2026 meeting, with the risk biased towards a further rise in November if activity data stays resilient NAB Group Economics | 27 August 2026 |
| Westpac | Now expects a 25 basis point rise to 4.60% at the 2 to 3 November 2026 meeting (base case), reversing its earlier call of no further 2026 rises; Chief Economist Luci Ellis points to more resilient household incomes and a bigger-than-expected data centre investment boom, and flags the RBA could act as early as its 29 September meeting if internal urgency wins out Westpac Economics | 9 September 2026 |
| ANZ | Extended hold at 4.35% “through August and beyond” (ANZ's latest call published on its own site; industry press continues to report ANZ expects a rise in November, still not confirmed on anz.com) ANZ Research | 7 May 2026 |
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 4.35% as at September 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 29 September 2026. The board announces its cash rate decision at 2:30pm AEST on the second day of the meeting. NAB expects a rise at the September meeting, while CommBank and Westpac both now expect the rise to land in November.
What do the big four banks predict for the next RBA move?
NAB expects a rise at the 29 September meeting with the risk of another in November; CommBank expects the rise in November and still sees cuts in 2027; Westpac now also expects a November rise, reversing its earlier call of no change for the rest of 2026; ANZ's most recent call published on its own site (7 May 2026) was an extended hold, and industry press has reported it has since moved to a November rise too. Each call comes from that bank's own research team and can change before their next scheduled update.
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 6.33%, about 198 basis points above the 4.35% 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 6.33%, a $600,000 owner-occupier loan over 30 years costs roughly $3,726 a month in principal and interest. A sharper rate from the comparison table lowers that materially.
See live rates against the 4.35% cash rate
Compare every lender's rate, rates as at 27 August 2026, and see the full rate statistics.