RBA increased the cash rate by 50 basis points from 1.85% to 2.35% at its board meeting for September 2022.

The Reserve Bank announced Australia’s official cash rate at 2.35 per cent. For the 5 months in a row, the Reserve Bank of Australia (RBA) has increased the official cash rate, this time by another further 50 basis points to 2.35 percent, as it continues to curb inflation. Philip Lowe, the RBA governor, said the central bank “remained committed to returning inflation to the 2–3% range over time. It is seeking to do this while keeping the economy on an even keel.”