Interest Rates · 11 August 2026

RBA holds cash rate at 4.35 per cent for second straight meeting

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Probably worth doing something about

Every Australian with a variable mortgage, savings account or fixed-term loan is directly priced off this rate. The hold gives breathing room but the RBA is explicit: more rises remain possible.

In a nutshell: The Reserve Bank left the cash rate at 4.35 per cent on 11 August, its second consecutive hold after three hikes earlier in 2026. Governor Michele Bullock said inflation remains too high and the board is not yet confident it is returning to target. All four major banks had predicted a hold following the latest CPI release. The next scheduled meeting is not until later in 2026.

Spin Unspin

What they’re saying

Bullock stressed the board remains concerned about the inflation outlook and will raise rates further if required, despite the consecutive holds.

Mardiasmo cautioned that a hold does not trigger a swift return of buyers; affordability pressure and weak confidence persist.

Decision confirmed by RBA, Domain and The New Daily from the official 11 August announcement. No conflicting reports.

Reserve Bank of Australia

RBA interest rates decision August 2026: Cash rate held at 4.35 per cent

Rates on hold, but outlook for rest of 2026 is murky

Do I care?

Repayments are unchanged. Review your rate against current comparison rates; lenders are competitive.

If your fix rolls off in the next six months, start comparing now — rolling to variable at 4.35% is likely.

Nothing urgent to do today, but this is a good moment to check your fixed-rate expiry date.

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