The cash-rate target is one part of the story. See how it compares with the average rates households and businesses pay.
Cash target effective 30 September 2026 · Lending: August 2026, published 8 October 2026
RBA cash-rate target
4.60%
Effective 30 September 2026 · Latest change +0.25 percentage points
Existing owner-occupier variable loans
6.20%
Average rate · All institutions · August 2026
Existing small-business loans
7.47%
Average rate · Fixed and variable combined · August 2026
Lending figures describe August 2026. The RBA has flagged publication delays affecting these tables. These averages are not today’s loan offers.
One policy rate. Many borrowing rates.
The RBA sets a target for the interest rate on overnight loans between banks. Lenders use that rate alongside funding costs, competition, risk and other factors when pricing loans.
Your mortgage or business loan has its own rate. Published averages bring many loans together, so they can change when the mix of loans changes as well as when lenders change their prices.
