Cash Target Rate Increase


The Reserve Bank of Australia’s Board today decided to raise the cash target rate from 1.35% to 1.85 per cent. 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) will be 3.85% from tomorrow (3 August 2022).

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