Cash target rate increase effective 8 November 2023

07/11/2023

The Reserve Bank of Australia’s Board decided on 7 November 2023 to raise the cash target rate from 4.10% to 4.35%. 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 6.35%, effective from 8 November 2023.