Change to the rate of interest on unpaid legal costs

09/11/2020

The Reserve Bank Board on 3 November 2020 decided to lower the cash rate target from 0.25 per cent to 0.1 per cent. Accordingly, the rate of interest on unpaid legal costs, prescribed by section 195 of the Legal Profession Uniform Law (NSW) and Rule 75 of the Legal Profession Uniform General Rules 2015 (NSW), is now 2.1 per cent.