RBA - Interest rate cycle and monetary policy settings

Question

Senator CHANDLER: So, as you foreshadowed, the Reserve Bank is doing something here in terms of fiscal policy-obviously. You've increased interest rates to the equal-highest rate since 2011, and you had to commence that reverse trajectory well before the fuel crisis in the Middle East. We saw that the three interest rate cuts in 2025 were the shortest and shallowest easing cycle in the history of the modern cash rate-in more than 35 years. That's correct, isn't it? Ms Bullock: I'm not sure- Dr Hunter: I don't think it was the shortest. Ms Bullock: I don't think it was the shortest, but I'll check-there is one other one, I think, that was reasonably short as well, but I'm not sure of the exact months.

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• RBA - Senator Chandler - Questions on Notice - 4 June 2026.PDF (opens in a new tab)