The Reserve Bank of Australia left the official cash rate at 4.35% on 17 June 2026, marking the sixth consecutive meeting without a change. Governor Michele Bullock said inflation is moving toward the 2–3% target band, though services price growth remains sticky in Sydney and Brisbane.
Statement Highlights
- Trimmed mean inflation at 3.1% in the latest quarterly read
- Unemployment steady at 4.2% nationwide
- Wage growth easing but still above pre-pandemic averages
Major Bank Variable Rates (Owner-Occupier)
| Lender | Standard variable | Change since May |
|---|---|---|
| CBA | 6.34% | No change |
| Westpac | 6.39% | No change |
| ANZ | 6.41% | No change |
Market Outlook
- Money markets price the first cut for November 2026.
- Fixed-rate demand has cooled as borrowers wait for variable relief.
- Regional housing markets continue to outperform capitals on price growth.
The ASX 200 closed 0.6% higher led by banks and miners after the announcement.
