Cash rate target increase effective 8 February 2023

07/02/2023

The Reserve Bank of Australia’s Board decided on 7 February 2023 to raise the cash rate target from 3.10% to 3.35%. 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 5.35%, effective from 8 February 2023.