Cash Rate Target Lowered to 3.85%, Effective 21 May 2025

21/05/2025

The Reserve Bank of Australia’s Board decided on 20 May 2025 to lower the cash rate target to 3.85%. 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 5.85%, effective from 21 May 2025. Please see the Reserve Bank of Australia webpage on the Cash Rate Target for a table summary of all interest rate decisions (available here).