Banks › Reserve Bank of Australia › History › 17 Mar 2026
Reserve Bank of Australia: decision of 17 March 2026
The Reserve Bank of Australia raised the cash rate target by 25 basis points to 4.10%, its second increase of 2026.
Decision
raise
- Rate
- 3.85%↑4.10%
- Change
- +25 bp
- Vote
- 5–4
- Announced
- 14:30 Sydney time
Sources
- Statement
- rba.gov.au/media-releases/2026/mr-26-08.…
- Minutes
- rba.gov.au/monetary-policy/rba-board-min…
- Media conference
- rba.gov.au/speeches/2026/mc-gov-2026-03-…
- Recorded
- 17 Mar 2026
- Data
- JSON
What the bank said
The Board said inflation had risen materially in the second half of 2025 and that capacity pressures were slightly greater than previously assessed, after demand grew more strongly than expected late in the year.
It noted that the labour market had tightened a little, with the unemployment rate somewhat lower than expected.
The Board said sharply higher fuel prices from the conflict in the Middle East could add to inflation if they persisted, and that short-term inflation expectations had already risen.
Guidance. The Board said it would do what it considers necessary to bring inflation back to target.
Dissent
Four members voted to keep the cash rate target at 3.85%.
Before and after
- Previous decision: 3 Feb 2026, raised the cash rate target by 25 bp to 3.85%.
- Next decision: 5 May 2026, raised the cash rate target by 25 bp to 4.35%.
- All Reserve Bank of Australia decisions and the rate history