Cash Target Rate Increase Effective 7 December 2022

21/12/2022

The Reserve Bank of Australia’s Board decided on 6 December 2022 to raise the cash target rate from 2.85% to 3.10%. Accordingly, the rate of interest on unpaid legal costs prescribed by s 195 of the Legal Profession Uniform Law (NSW) and r 75 of the Legal Profession Uniform General Rules 2015 (NSW) is 5.10%, effective from 7 December 2022.