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RBA lifts official interest rate

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Reserve Bank of Australia lifted the official cash rate by 25 basis points at its meeting Today.

The RBA board decided to increase the rate from a record low of 0.1%, to 0.35% and the interest rate on exchange settlement balances was lifted 25 percent to 0.25%.

The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support provided to help the Australian economy through the pandemic.

The resilience of the Australian economy is particularly evident in the labour market, with unemployment declining over recent months to 4%, according to RBA Governor Philip Lowe.

“Both job vacancies and job ads are also at high levels,” he said.

“The central forecast is for the unemployment rate to decline to around 3.5% by early 2023.”

Lowe went on to say that inflation was significantly higher than expected a year ago, although it remained lower than in most other advanced economies.

Published:Tuesday, 3rd May 2022
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

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Finance News

ANZ's Nuno Matos Takes Helm at Australian Banking Association

04 Dec 2025: Paige Estritori

In a significant development for Australia's banking sector, Nuno Matos, Chief Executive Officer of ANZ Group, has been appointed as the new chair of the Australian Banking Association (ABA) council. This appointment marks a pivotal moment for the industry, as Matos brings a wealth of experience and a fresh perspective to the role. - read more

APRA Implements Cap on High Debt-to-Income Home Loans

04 Dec 2025: Paige Estritori

In a proactive move to address potential risks in the housing market, the Australian Prudential Regulation Authority (APRA) has announced the implementation of a cap on high debt-to-income (DTI) home loans, effective from February 2026. This measure is designed to curb the issuance of loans that could pose systemic risks to the financial system. - read more

Australian Home Prices Expected to Climb by 7% in 2026

04 Dec 2025: Paige Estritori

Recent analyses indicate that Australian home prices are set to rise by approximately 6.9% in 2026, marking a significant upward revision from previous forecasts. This anticipated growth is attributed to constrained housing supply and a resurgence in buyer demand, following interest rate cuts by the Reserve Bank of Australia (RBA) in 2025. - read more

RBA's October 2025 Review: Navigating Global Financial Risks

26 Nov 2025: Paige Estritori

The Reserve Bank of Australia (RBA) has released its October 2025 Financial Stability Review, providing a comprehensive assessment of the nation's financial system amidst a backdrop of global uncertainties. The report underscores that while Australia's financial institutions remain robust, external factors pose significant risks that warrant vigilant monitoring. - read more

Leadership Turmoil at Santos: CFO Sherry Duhe Steps Down

26 Nov 2025: Paige Estritori

In a significant development within Australia's energy sector, Santos Limited's Chief Financial Officer (CFO), Sherry Duhe, has resigned after a brief tenure of one year. Duhe's departure is attributed to an 'untenable leadership environment' and irreconcilable differences with CEO Kevin Gallagher, raising questions about the company's internal governance and strategic direction. - read more

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