RBA increased the cash rate by 25 basis points from 2.35% to 2.60% at its board meeting for October 2022.

The Reserve Bank announced Australia’s official cash rate at 2.60 per cent. For 6 months in a row, the Reserve Bank of Australia (RBA) has increased the official cash rate, this time by another further 25 basis points. Mr Lowe has warned Australians there are still more interest rate rises to come in the months ahead.