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.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

RBA Holds Rates: A Timely Checkpoint for Borrowers

19 Jun 2026: Paige Estritori

The Reserve Bank of Australia’s June decision to keep the cash rate target unchanged at 4.35 per cent marks an important pause after three consecutive rate increases earlier in 2026. For households, sole traders and small to medium-sized business owners, the hold does not mean borrowing has suddenly become cheaper. It does, however, create a valuable moment to reassess existing debt, planned applications and overall cash flow before the next policy move. - read more

Click for more Finance News

Time to Refinance?

If you are seeking lower rates, lower fees and more flexibility in your home loan. you are in luck! Our national panel of mortgage brokers is looking forward to an opportunity to assist you. Apply online for a free eligibility assessment and one of our broker network refinance specialists will get on the case to track down the best deal for your individual circumstances. Without any obligation and at no charge to you!

... start here ...

Finance Articles

How to Improve Your Chances of Getting a Business Loan Approved

Welcome, Australian entrepreneurs and business owners! Whether you're just setting down the foundation of a startup or steering a well-established enterprise, access to capital remains a critical ingredient for business growth and survival. In the bustling economy of Australia, a well-structured business loan can be the catalyst that propels your business forward, aiding in expansion, the acquisition of new equipment, or simply ensuring smooth operational cash flow during lean periods. - read more

The In-Depth Guide to Boat Loans in Australia: What You Need to Know Before Diving In

Australia, with its expansive coastline and spectacular waterways, naturally cultivates a rich culture of marine enthusiasts. Imagine the salty breeze on your face as you slice through waves, the call of seabirds overhead, and the freedom to explore hidden coves and beaches – this is the quintessential Australian boating lifestyle. - read more

Top Mistakes to Avoid When Saving for Your First Home

Embarking on the journey to homeownership is both exciting and daunting. It's a significant milestone that requires careful planning and disciplined saving. For many Australians, buying a first home represents a dream come true, and it's essential to approach it strategically. - read more

Knowledgebase

Discount Rate:
The interest rate used to determine the present value of future cash flows, often used in discounted cash flow analysis.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.

RBA lifts official interest rate

RBA lifts official interest rate

Share this news item:

Free Loan Eligibility Assessment