When is the next RBA meeting? Will we be getting another interest rate cut?

The Reserve Bank of Australia (RBA) is due to meet for the second time in 2025 this week.

When the RBA Board met in February, it cut the cash rate target by a quarter of a percentage point.

However most banks don’t expect a repeat of that decision during this next meeting.

When is the next RBA meeting?

Monday and Tuesday.

The board’s decision about whether to cut interest rates is released 2:30pm AEDT on Tuesday.

What is the cash rate target?

Currently, the cash rate target is 4.1 per cent.

The cash rate is the interest rate set by the RBA, which influences how much commercial banks charge customers for borrowing money.

But when the RBA changes the cash rate target, interest rates for mortgages don’t automatically change — the individual banks decide that.

When will interest rates go down?

No-one knows that for sure.

So we have to rely on educated guesses from economists and banking industry professionals.

Here’s when the major banks think rates will go down:

• ANZ: August
• Commonwealth Bank: May
• NAB: This quarter — so either this week or the May meeting
• Westpac: The June quarter

When will the RBA next cut rates?

Again, that’s anybody’s (educated) guess.

Here’s how many more rate cuts the big four banks are expecting after this week’s meeting:

• ANZ: One more cut — which won’t be until August, when the bank forecasts a 3.85 per cent cash rate
• Commonwealth Bank: Two more cuts — expecting it to get down to 3.35 per cent in December
• NAB: At least three more cuts this year — expecting it to get down to 3.35 per cent in December
• Westpac: Three more cuts this year — expecting it to get down to 3.35 per cent in November

When did we last have this cash rate?

In October, 2023.

It was 4.1 per cent for four months.

Here’s a graph that tracks the cash rate target over the past three decades:

What are the RBA’s 2025 meeting dates?

The RBA meets eight times this year — so after this week’s meeting, there will be six meetings left for the year.

Here are the dates listed on the Reserve Bank’s website:

• February 17 and 18
• March 31 and April 1
• May 19 to 20
• July 7 and 8
• August 11 and 12
• September 29 and 30
• November 3 and 4
• December 8 and 9

However, the RBA told reporters late last year that some of those meeting dates may shift.

That may include the November meeting, so it doesn’t clash with Melbourne Cup Day on November 4.

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