Banks › Reserve Bank of Australia › History › 3 Feb 2026
Reserve Bank of Australia: decision of 3 February 2026
The Reserve Bank of Australia raised the cash rate target by 25 basis points to 3.85%.
Decision
raise
- Rate
- 3.60%↑3.85%
- Change
- +25 bp
- Vote
- unanimous
- Announced
- 14:30 Sydney time
Sources
- Statement
- rba.gov.au/media-releases/2026/mr-26-03.…
- Minutes
- rba.gov.au/monetary-policy/rba-board-min…
- Media conference
- rba.gov.au/speeches/2026/mc-gov-2026-02-…
- Statement on Monetary Policy
- rba.gov.au/publications/smp/2026/feb/
- Recorded
- 3 Feb 2026
- Data
- JSON
What the bank said
The Board said inflation had picked up materially in the second half of 2025 and judged that part of the rise reflected greater capacity pressures, so inflation was likely to stay above target for some time.
It noted that private demand, including household spending and investment, had grown much faster than expected and that housing activity was picking up.
The Board said labour market conditions remained a little tight, with unemployment somewhat lower than expected and broader measures of wage growth still strong.
Guidance. The Board said it would be attentive to the data and the evolving assessment of the outlook and risks in guiding its decisions.
Before and after
- Previous decision: 9 Dec 2025, held the cash rate target at 3.60%.
- Next decision: 17 Mar 2026, raised the cash rate target by 25 bp to 4.10%.
- All Reserve Bank of Australia decisions and the rate history