RBA Meeting Schedule: Will Interest Rates Drop?

The Reserve Bank of Australia (RBA) will meet this month to decide on the cash rate target. The board's decisions affect many Australians directly or indirectly. These meetings occur eight times a year, providing regular updates.

The next RBA meeting is scheduled for tomorrow, with a two-day session on Monday and Tuesday. Economists predict a rate cut, with 31 out of 37 experts expecting a decrease.

The current cash rate target is 3.85 per cent, influencing various interest rates. If the rate is cut by 0.25 per cent, it will drop to 3.6 per cent. The RBA's decision will be announced on Tuesday afternoon.

If rates are reduced, individual banks will decide whether to pass on the cut to customers. Major banks anticipate further cuts this year, with varying predictions on the new rates.

Two rate cuts have already occurred this year, with the cash rate decreasing from 4.35 to 3.85. The RBA will convene eight times in 2025, with dates available on their website.

According to the source: Australian Broadcasting Corporation.