RBA Rate Decision February 2027
February 8, 2027 @ 10:30 pm - 11:30 pm
RBA Rate Decision February 2027
Next RBA Rate Decision: Tuesday, at 2:30 pm AEDT (10:30 pm ET, 3:30 am London).
- Consensus
- Not yet published
- Prior
- 4.10%
- Actual
- Pending
Updated
Australia’s Reserve Bank publishes its next cash rate decision on Tuesday, February 9, 2027, with the announcement due at 2:30 pm AEDT, which is 10:30 pm ET on Monday, February 8 in the United States and 3:30 am in London on February 9. The decision is made by the RBA’s Monetary Policy Board and is followed by a press conference with the Governor. This page covers the February 2027 meeting; the previous decision is covered on the RBA Rate Decision December 2026 page, and the central schedule of meetings is published by the Reserve Bank of Australia itself.
What is the RBA Monetary Policy Board and what does it decide?
The Reserve Bank of Australia is the country’s central bank. Since reforms recommended by the 2023 independent review of the RBA, interest rate decisions are made by a dedicated Monetary Policy Board rather than the old single Reserve Bank Board, which now focuses on governance and operations. The Monetary Policy Board sets the cash rate target, the interest rate banks charge each other for overnight loans and the anchor for almost every other borrowing rate in the Australian economy, from mortgages to business loans.
The Board’s mandate is to keep consumer price inflation within a 2 to 3% target band on average over time, while also supporting full employment and the broader economic welfare of Australians. It is a dual mandate in practice, similar in spirit to the US Federal Reserve’s, though the inflation target is explicit and numerical. Membership includes the RBA Governor as chair, the Deputy Governor, the Secretary of the Treasury, and six external members drawn from academia, business and economics, a structure designed to separate interest rate-setting from the Bank’s internal management.
The Board meets eight times a year, roughly every six weeks, with each meeting held over two days and the decision announced on the Tuesday afternoon. Every meeting since the 2025 reforms is followed by a press conference, where the Governor explains the reasoning and takes questions from journalists, a change from the older practice of holding press conferences only occasionally.
When is the February 2027 RBA decision announced?
The decision is released at 2:30 pm Sydney time on February 9, 2027, alongside a short statement explaining the Board’s reasoning. Four times a year the decision is accompanied by the RBA’s Statement on Monetary Policy, a detailed set of economic forecasts covering inflation, growth, unemployment and the Bank’s central outlook; readers should check whether February falls on one of those quarterly cycles, as it typically coincides with the February meeting in most years. Minutes of the meeting are usually released around two weeks later. The Governor’s press conference follows shortly after the written statement, and this is often where markets look for more detail on the Board’s tone and any hints about future meetings.
What to expect
At the time this page was prepared, the outcome of the Board’s December 2026 meeting, and therefore the exact cash rate level entering the February 2027 decision, had not yet been confirmed. Readers should check the RBA’s own board meetings page for the current cash rate target and the most recent statement before this meeting. As with any rate decision, traders in Australian overnight indexed swaps and economists surveyed by Reuters and Bloomberg typically build up a probability-weighted view of the likely outcome in the days before the meeting, based on recent inflation data from the Australian Bureau of Statistics, labour market figures and the tone of prior RBA commentary. A consensus forecast for this specific meeting has not yet been published this far in advance.
The table below shows a verified portion of the RBA’s recent rate history. Because this page was prepared well ahead of the meeting, more recent entries from late 2025 and 2026 are not included here; the full and current record is always available on the RBA’s own website.
| Meeting | Decision | Rate after meeting |
|---|---|---|
| November 2023 | Raised 25bp | 4.35% |
| December 2023 | Held | 4.35% |
| February 2024 | Held | 4.35% |
| June 2024 | Held | 4.35% |
| September 2024 | Held | 4.35% |
| December 2024 | Held | 4.35% |
| February 2025 | Cut 25bp | 4.10% |
Market impact scenarios
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Hold | Neutral to mildly hawkish if guidance stays firm; the Australian dollar often holds steady or firms slightly | The RBA leaves borrowing costs unchanged because it judges inflation and jobs data are broadly on track, so variable mortgage repayments do not move immediately |
| Cut | Typically weakens the Australian dollar and lifts share prices, as lower rates reduce returns on holding the currency and make borrowing cheaper for companies | The Board judges the economy needs support, perhaps because inflation has cooled or unemployment has risen, so banks are likely to pass through lower mortgage and savings rates |
| Hike | Usually strengthens the Australian dollar and can pressure share prices, particularly in rate-sensitive sectors like property and retail | The Board raises rates because inflation is proving stickier than expected, meaning higher repayments for variable-rate mortgage holders but better returns for savers |
What will the statement and press conference signal?
Beyond the headline decision, markets focus closely on the wording of the RBA’s statement for any shift in forward guidance, the Board’s language about the balance of risks between inflation and unemployment, and whether it signals patience or urgency about future moves. Analysts also watch for any dissent noted in the minutes released roughly two weeks after the meeting, since a closer vote can suggest the Board is genuinely split on the outlook. The press conference gives the Governor a chance to clarify points the written statement leaves open, and journalists typically press on housing costs, the labour market and how global developments, including decisions by the US Federal Reserve and the European Central Bank, factor into the Board’s thinking.
What It Means for Your Money
For Australian households, the cash rate feeds almost directly into variable-rate mortgages, so a cut tends to lower monthly repayments within weeks while a hike raises them; those on fixed rates are unaffected until their fixed term ends. Savers see the opposite pattern, with online savings accounts and term deposits typically offering better returns when the cash rate is higher and worse returns when it falls. Credit card and personal loan rates tend to move more slowly but follow the same general direction over time.
For currency markets, a cut generally makes the Australian dollar less attractive to international investors chasing yield, which can push it lower against the US dollar, the pound and the euro, making imports and overseas holidays more expensive for Australians but helping exporters. A hike tends to work the other way. For pensions and investments, lower rates can support share prices by making borrowing cheaper for companies and by pushing investors toward riskier assets in search of returns, while higher rates can do the reverse, particularly for property and growth-focused shares. For readers in the UK and eurozone, Australian rate moves rarely shift domestic policy directly, but they feed into the broader global picture that the Bank of England and European Central Bank weigh when assessing worldwide demand and commodity prices, since Australia is a major exporter of iron ore, coal and other raw materials.
Related events
- Previous decision: RBA Rate Decision December 2026
- Australian inflation data from the Australian Bureau of Statistics is published in the weeks before each RBA meeting and heavily influences the Board’s decision
- Australian labour force figures, also from the Australian Bureau of Statistics, are released monthly and are closely watched alongside inflation ahead of each meeting
Frequently Asked Questions
What time is the RBA decision announced?
The decision is released at 2:30 pm AEDT on February 9, 2027, which is 10:30 pm ET the previous evening and 3:30 am in London.
Will the RBA cut rates at this meeting?
That depends on inflation and labour market data available closer to the meeting; no outcome should be treated as certain until the Board announces its decision.
What is the current RBA cash rate?
The rate in force ahead of this meeting is set at the December 2026 meeting; readers should check the RBA’s own board meetings page for the confirmed current level.
When is the next RBA meeting after February 2027?
The RBA publishes its full year’s meeting schedule in advance on its board meetings page, where the next date after February can be confirmed.
Where can I watch the press conference?
The RBA streams the Governor’s press conference live on its own website shortly after the written statement is released.