RBA increased the cash rate by 50 basis points from 0.85% to 1.35% at its board meeting for July 2022.

The Reserve Bank announced Australia’s official cash rate at 1.35 per cent. For the third month in a row, the Reserve Bank of Australia (RBA) has increased the official cash rate, this time by another further 50 basis points to 1.85 percent, as it continues to curb inflation.