The RBA November 2026 meeting runs over 2 and 3 November, and the Reserve Bank will announce its cash rate decision at 2:30pm AEDT on Tuesday 3 November. If you are applying for a car loan, waiting on a pre-approval or due to settle a vehicle purchase in the next few weeks, that afternoon matters. This article sets out the confirmed dates, the data still to arrive before the decision and the practical checks that help you plan, whichever way the Board decides. It is general information only, not advice about your own situation, and it does not predict the outcome.
The short answer
The cash rate target is 4.60%, after the Board lifted it by 25 basis points on 29 September 2026. The next decision is due on 3 November, together with the Reserve Bank's quarterly Statement on Monetary Policy and its updated forecasts. Before then, the Australian Bureau of Statistics releases the September 2026 Consumer Price Index on 28 October. Nobody outside the Board knows the decision in advance. The useful move for a car loan applicant is to know which parts of the application a rate change could touch, and to build room in the budget for either result.
Key dates around the RBA November 2026 meeting
These dates come from the Reserve Bank's published calendar and the ABS release schedule:
- Wednesday 28 October: the ABS schedules the September 2026 Consumer Price Index. Check the release calendar again if your settlement depends on timing.
- Monday 2 and Tuesday 3 November: the Monetary Policy Board meets.
- Tuesday 3 November, 2:30pm AEDT: the decision statement and the Statement on Monetary Policy are released, followed by the Governor's media conference at 3:30pm AEDT.
- Tuesday 17 November: the minutes of the November meeting are published.
- Thursday 19 November: the ABS publishes the October Labour Force figures, after the decision.
If your lender, dealer or broker is based in Victoria, remember the public holiday. A rate announcement on a day when some offices are closed can mean a slower reply to questions about your quote.
Where the cash rate stands
According to the Reserve Bank's cash rate table, the target has risen four times in 2026: in February, March and May, and again from 30 September, taking it from 3.60% at the start of the year to 4.60%. The Board held in June and August. We covered the September rate rise and the minutes explaining it at the time.
In its September statement the Board said inflation "remains elevated" and that some upside risks flagged in August were materialising, including higher global energy prices linked to the Middle East conflict. It said it would "continue to do what it considers necessary to bring inflation sustainably back to target, including increasing the cash rate target further if needed", and that it would be "attentive to the data". That is a conditional statement. It is not a promise of another rise, and it is not a signal of a cut.
The data the Board has seen since September
Two major releases have arrived since the September meeting, and one more is due before November.
Inflation. The ABS monthly CPI for August 2026, released on 30 September, showed annual inflation of 4.0%, up from 3.5% in July. The trimmed mean, a measure of underlying inflation, was 3.6%, unchanged. Electricity prices were 13.2% higher than a year earlier, which the ABS linked to the end of Commonwealth electricity rebates, and automotive fuel was up 13.5%. Our August inflation article covers what those prices mean for a car loan budget.
Jobs. The ABS Labour Force release for September 2026, published on 15 October, showed the seasonally adjusted unemployment rate up 0.1 percentage points to 4.7%. Employment fell by 39,300 people and the participation rate fell 0.2 points to 66.8%. We looked at what the September unemployment rate means for car loan applicants earlier this week.
Still to come. The September CPI on 28 October is the last major ABS release before the meeting. It will show whether the fuel and electricity effects seen in August carried into September. Read it as context for your own budget rather than as a forecast of the decision.
What the decision can and cannot change on a car loan
A cash rate decision is not a car loan price list. Car loan rates are set by each lender and depend on the lender's funding costs, the loan term, the vehicle, your credit history and whether the loan is secured. Our guide on why car loan rates don't follow the cash rate explains this in more detail.
What a decision can change is the context your application is assessed in:
- A variable home loan repayment. If you have a variable mortgage, a change in the cash rate is often passed on by your lender. After the September rise, the big four banks applied their variable home loan increases from 9 October. A higher mortgage repayment is a higher commitment in your serviceability assessment, so it can reduce your car loan borrowing power.
- Lender pricing over time. Lenders review their own rates on their own timetables. A quote is generally only valid on its stated terms and for its stated period.
- Your budget. Even without any rate change, the prices that drive inflation, such as fuel and electricity, sit inside the living expenses a lender assesses.
What a decision does not do is change the agreed rate on a fixed rate car loan you already have. Fixed repayments stay as set out in your contract.
Checks for car loan applicants before 3 November
Read your quote or pre-approval. Note the interest rate, the comparison rate, the expiry date and whether the rate is fixed for the term. Our guide to car loan pre-approval explains what a conditional approval does and does not lock in. Use the comparison rate rather than the headline rate when you compare offers.
Ask about timing. If your settlement date falls after 3 November, ask the lender or broker which rate applies at settlement and whether the offer can change before then. Our article on what happens between approval and settlement covers the steps.
Build a repayment buffer. Run your repayment in the car loan calculator at your quoted rate, then again at a higher rate, and check the larger figure still fits. Do the same for a variable mortgage. This is a stress test for your own budget, not a forecast.
Keep your bank statements tidy. Lenders read recent statements to check your spending. The weeks before an application are a poor time to open new credit, miss a bill or run your account into overdraft.
Compare the full offer. Look at fees, the term, any balloon payment and early payout terms, not just the rate. You can review current car loan rates and lender profiles to see how offers are structured.
Household buffers in the RBA's own words
The September meeting minutes distinguish borrowers by income group. The RBA estimated that fewer than 2% of owner-occupier borrowers faced a cash flow shortfall. Median savings covered just under a year of scheduled repayments in the lowest income group and almost two years in the highest. These group measures cannot establish whether an individual borrower can afford another loan.
Should you wait for the decision before applying?
There is no general answer. Waiting a week does not guarantee a better or worse rate, because car loan pricing is set by lenders rather than directly by the Board. What waiting can do is let you see your own mortgage lender's response, if you have a variable home loan, before you commit to a new repayment. Against that, a pre-approval or quote with an expiry date may lapse if you wait too long. Weigh the dates in your own documents rather than the headlines.
If you are ready to look at options, you can start with our car loans page, or our personal loans page for a private sale or older vehicle. Whatever the Board decides on 3 November, the checks above stay the same: know your rate type, know your dates and leave room in the budget.
