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Bond:
A fixed-income investment in which an investor loans money to an entity that borrows the funds for a defined period at a variable or fixed interest rate.

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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
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Finance News

APRA's New Cap on High Debt-to-Income Home Loans Explained

11 Apr 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has implemented a significant policy change aimed at mitigating risks in the housing market. Effective from 1 February 2026, APRA has introduced a cap limiting banks to issuing no more than 20% of new home loans to borrowers with a debt-to-income (DTI) ratio exceeding six times their income. This measure applies separately to owner-occupier and investor loans, reflecting APRA's commitment to maintaining financial stability. - read more

Regulators Intensify Oversight of Non-Bank Lenders Amid Sector Growth

11 Apr 2026: Paige Estritori

The Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) have heightened their scrutiny of non-bank lenders, a sector experiencing significant growth in recent years. This increased oversight aims to ensure that the expansion of non-bank lending does not compromise the stability of the broader financial system. - read more

RBA's Latest Rate Hike: What It Means for Your Finances

03 Apr 2026: Paige Estritori

The Reserve Bank of Australia (RBA) has raised the cash rate to 4.10%, marking a significant move aimed at curbing persistent inflationary pressures. This decision is expected to have widespread implications for Australian borrowers, particularly those with variable-rate mortgages. - read more

Navigating the Upcoming 4.41% Increase in Health Insurance Premiums

03 Apr 2026: Paige Estritori

Starting April 2026, Australians will experience a 4.41% average increase in health insurance premiums, the highest government-approved hike since 2017. This rise adds to the financial pressures many households are already facing. - read more

Understanding Australia's $21.7 Billion Credit Card Debt in 2026

03 Apr 2026: Paige Estritori

As of January 2026, Australians hold a total of 12,227,388 credit cards, with a national debt accruing interest amounting to $21.7 billion. This substantial figure underscores the growing reliance on credit and the potential financial stress associated with it. - read more

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