RBA Decision, Rising Rates &What You Need to Know

Mar 15, 2026 | Latest News

A market briefing from Prosperity Mortgage Partners

Middle East Conflict & Its Impact on Australian Inflation

The ongoing military conflict in the Middle East has caused substantial disruption to global energy markets. Oil prices have surged sharply, feeding directly into inflation expectations worldwide — including here in Australia. RBA Deputy Governor Andrew Hauser has warned publicly that the energy price spike would push inflation higher, signalling that the Board is weighing whether to act sooner than previously anticipated.

Even before this latest global turbulence, Australia’s domestic inflation was already running uncomfortably hot — sitting at 3.8%, well above the RBA’s target band of 2–3%.

3.8%
Annual headline inflation
4.1%
Unemployment rate
2.6%
Economic growth past year

RBA Meeting — Decision Tuesday 17 March 2026

The Reserve Bank’s Monetary Policy Board meets this Monday and Tuesday, with the official rate decision announced at 2:30pm AEST on Tuesday 17 March. The February meeting already delivered a surprise — a 25 basis point rise to 3.85%, the first increase in over two years. The question now is whether the Board acts again so soon.

  • NAB, Westpac and CBA have all formally forecast a 25bp increase on Tuesday, bringing the cash rate to 4.10%.
  • Reuters poll (10–12 March) found 23 out of 30 economists expect a rate rise at this meeting.
  • Market pricing reflects approximately 75% probability of a hike.
  • ANZ is the one major bank forecasting a pause, with potential action in May.
  • All four major banks forecast the cash rate could reach 4.35% by mid-2026 if inflation persists.
  • RBA Governor Michele Bullock has publicly stated that “every meeting is live.”

What a rate rise means for your repayments

Each 0.25% rise adds approximately $90 per month to a $600,000 loan on a 30-year P&I term. Two further rises by mid-2026 would add $180/month compared to today.

Current Fixed Rate Home Loan Market — 15 March 2026

Lenders have already been repricing their fixed rate products in anticipation of further rate increases — in some cases multiple times in recent weeks. The figures below are indicative only and subject to lender eligibility, LVR and package conditions.

Important — rates are changing daily

This is a snapshot only. Always verify current rates directly with your lender or broker before making any decision.

Lender1-Year Fixed2-Year Fixed
INGOrange Advantage Fixed5.74% p.a.*5.74% p.a.*
NABChoice Package Fixed5.74% p.a.*5.79% p.a.*
Macquarie BankBasic Home Loan Fixed5.84% p.a.*5.99% p.a.*
WestpacFixed Option Home Loan5.79% p.a.*
▾ pricing may reduce further
5.89% p.a.*
ANZFixed Rate Home Loan5.99% p.a.*
▾ pricing may reduce further
6.04% p.a.*
Commonwealth BankFixed Rate / Wealth Package6.19% p.a.*6.04% p.a.*
Suncorp BankHome Package Plus Fixed6.14% p.a.*6.14% p.a.*

* Indicative rates. Owner-occupier P&I. Subject to LVR, loan size, package fees and eligibility. Source: Canstar, Money.com.au, lender websites — 15 March 2026. Rates subject to change without notice.

It is worth noting that with a number of the lenders listed above, we are often able to negotiate a better rate than the advertised price — particularly for customers with strong equity, clean credit and larger loan amounts. The advertised rate is not always the rate you have to accept.

Understanding Rate Lock — Act Before Rates Move

If you are seriously considering fixing your rate, there is a critical step you need to be aware of: applying for a Rate Lock.

When you apply for a fixed rate loan, the rate offered today is not automatically guaranteed until your loan settles. If the lender increases its fixed rates between application and settlement — which in the current environment can happen within days — you will move to the new, higher rate unless a Rate Lock is in place.

Rate Lock fee (typically 0.10%–0.15% of your loan amount) locks in your agreed rate for 60–90 days from application. On a $600,000 loan, this is typically $600–$900 — a small price for certainty in a rising rate environment. Given lenders are currently changing fixed rates with little notice, we strongly recommend discussing Rate Lock when you decide to proceed.

Let’s Review Your Options

If you are considering fixing your rate — whether with your existing lender or by refinancing — please reach out to me directly. At Prosperity Mortgage Partners, we will compare your current bank’s offer against the full market and help you make a confident, informed decision.

Rates are moving quickly. The window to act may be narrow.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Masters Broker Group – Guiding you to Profit and Success – recognised among Australia’s Top 50 Brokerages

"Masters Broker Group - Guiding you to Profit and Success" has been recognised among Australia’s Top 50 Brokerages, earning a place in the Top 10 nationwide as published by...

Bank of Mum and Dad stumps up $40,000

They say there’s nothing quite like a parent’s love. Well, perhaps except for a parent’s love plus an extra $40,000 to help buy your first home. Today we’ll look at the pros and...

What are the chances of another rate cut this year?

The Reserve Bank has the cash rate in a holding pattern, and several of the big banks have scaled back their predictions of another cash rate cut in 2025. Here’s what it could...

Separating? Understand your home loan options

Nicole Kidman and Keith Urban are making headlines, having reportedly called time on their 19-year marriage. If you’re also facing a relationship break-up, it’s important to know...

99% of brokers have helped their clients secure a lower rate

Switching to a new home loan might sound like a hassle. But new research shows brokers don’t just make refinancing easier, they can also help home owners secure a lower interest...

Countdown to be in your new home by Christmas

The clock is ticking towards the festive season, and home buyers still have a small window of opportunity to be settled in their new place by Christmas Day. The good news is that...

Don't Wait, Contact Us Now!

We understand that getting a home loan for investment can be complex and stressful. That’s why we make it simple as possible and help you understand your options to suit your unique needs.

The privacy of your personal information is important to us. By providing your personal information to Connective, you consent to be contacted by a representative of Connective from time to time for marketing purposes. We will use your contact details to send you direct marketing communications including offers, updates, and newsletters that are relevant to the services we provide. We may do so by mail or electronically. You can unsubscribe by notifying us and we will no longer send this information to you. The full Privacy Policy can be found on the Compliments and Concern page of this website.

Credit Representative Number 546594 is authorised under Australian Credit Licence 389328. Your full financial situation would need to be reviewed prior to accepting any offer or product.