Banks › Reserve Bank of Australia › History › 11 Aug 2026
Reserve Bank of Australia: decision of 11 August 2026
The Reserve Bank of Australia left the cash rate target unchanged at 4.35%.
Decision
hold
- Rate
- 4.35%=4.35%
- Change
- 0 bp
- Vote
- unanimous
- Announced
- 14:30 Sydney time
Sources
- Statement
- rba.gov.au/media-releases/2026/mr-26-19.…
- Minutes
- rba.gov.au/monetary-policy/rba-board-min…
- Media conference
- rba.gov.au/speeches/2026/mc-gov-2026-08-…
- Statement on Monetary Policy
- rba.gov.au/publications/smp/2026/aug/
- Recorded
- 11 Aug 2026
- Data
- JSON
What the bank said
The Board said inflation remained too high, with trimmed mean inflation elevated, and that it did not expect inflation to return to around the midpoint of the target range until late 2027.
It noted that oil and related commodity prices remained above their levels before the Middle East conflict and that higher fuel costs were being passed through to other prices.
The Board judged monetary policy to be somewhat restrictive after three increases this year, noting that consumer spending was slowing and labour market conditions had eased a little more than expected.
Guidance. The Board said it would hold the rate while it assessed the economy and could raise it further if upside risks to inflation materialised.
Before and after
- Previous decision: 16 Jun 2026, held the cash rate target at 4.35%.
- Next decision: 29 Sept 2026, raised the cash rate target by 25 bp to 4.60%.
- All Reserve Bank of Australia decisions and the rate history