by 
Current as at 8 September 2026.
The Reserve Bank of Australia (RBA) meets regularly throughout the year to decide the cash rate, the benchmark interest rate that influences what banks charge on home loans and pay on savings accounts. At its most recent meeting in August 2026, the RBA’s Monetary Policy Board left the cash rate on hold at 4.35 per cent, marking the second consecutive hold after a run of increases earlier in the year. The Board noted that inflation remains above its target range and that it is watching the data closely before making its next move, with the following decision due on 29 September 2026.
Whether the cash rate goes up, down or stays the same, the decision genuinely does flow through to household budgets. Here is what a decision like this actually means in practice, and a simple way to plan around it, without needing to predict what happens next.
What the RBA actually decided
A “hold” means the cash rate target stays exactly where it was after the previous meeting. It does not mean interest rates are falling, and it does not guarantee they will not rise again. It simply means the Board judged that no change was the right call at that particular meeting, based on the economic data available at the time.
Cash rate decisions are announced generally, without singling out any one household’s circumstances. What actually happens to your own repayments or savings return still depends on your lender, your loan type, and whether your rate is fixed or variable.
What a rate hold means for mortgages
If you are on a variable rate home loan, a hold usually means your repayments stay the same after this particular decision, at least until your lender makes its own pricing move (lenders do not always move in lockstep with the RBA, and sometimes adjust rates independently). If you are on a fixed rate, nothing changes until your fixed term ends, at which point you will likely refinance at whatever rate is available then.
A hold after a run of increases can feel like a moment to catch your breath rather than a signal that repayments are about to fall. It is worth using a stable period to check your loan is still competitive, rather than assuming it automatically is.
What a rate hold means for savings
For savers, a stable cash rate generally means savings account and term deposit rates stay roughly where they are, at least in the short term. Banks do adjust these independently too, so it is worth comparing rates periodically rather than assuming your account is still paying what it once did.
How often the RBA meets
The RBA’s Monetary Policy Board meets eight times a year, roughly every six to seven weeks, to review the cash rate. Each meeting is announced at 2:30pm AEST on the day of the decision, with a statement explaining the Board’s reasoning. Knowing this rhythm makes it easier to plan around the calendar rather than being caught off guard by a decision.
A simple way to plan your household budget around rate decisions
You do not need to predict what the RBA will do to plan sensibly. A few practical habits help regardless of which way rates move:
- Know your own numbers first. Check whether your home loan is fixed or variable, and when a fixed rate is due to end.
- Build a small buffer into your budget for repayment changes, even a modest one, so a rate movement is not a shock.
- Review savings and offset accounts periodically rather than leaving them on autopilot.
- Mark the RBA’s next meeting date in your calendar if a decision could genuinely affect your repayments, so you are not caught by surprise.
- If a decision does affect you, talk to your own lender or a qualified financial adviser about your specific situation rather than relying on general commentary.
When the next decision is due
The RBA’s next scheduled meeting is 29 September 2026. As with every meeting, the outcome will depend on the economic data available closer to the date, and nothing about that outcome can be assumed in advance.
A note on this information
This article is general information only, based on the RBA’s own published August 2026 decision, and is not personal financial advice. Your own circumstances, lender and loan terms will determine what any rate decision actually means for your household. For guidance specific to your situation, speak with your lender or a licensed financial adviser.
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