Monetary Policy Decisions – 2025

The Monetary Policy Board is responsible for formulating monetary policy. The Reserve Bank sets the target ‘cash rate’, which is the market interest rate on overnight funds. Decisions regarding monetary policy are made by the Monetary Policy Board and explained in a media release announcing the decision at 2.30 pm after each Board meeting. (Prior to December 2007, media releases were issued only when the cash rate target was changed.)

* Last decision by the Reserve Bank Board.