Mortgage Business RBA delivers new financial year rate decision By Malavika Santhebennur 06 July 2021 The RBA has announced its decision for the official cash rate for July, as well as changes to strategies around its government bond-buying program. The Reserve Bank of Australia (RBA) has held the official cash rate at the current record low of 0.10 per cent, amid speculation of rate rises earlier than outlined by the RBA. However, the RBA has not changed its stance on possible rate rises before 2024, with RBA governor Philip Lowe saying in his statement on the monetary policy decision: “The board remains committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target.