The RBA meets on 29 September. What should borrowers check before then?
Quick answer: The Reserve Bank board meets on 28 and 29 September, and a rate rise is being widely discussed. Nobody can know the decision in advance, so the practical move is to review your loan structure, repayment buffer and any upcoming fixed-rate expiry or facility renewal now, before the decision rather than after it.
Why is everyone talking about this meeting?
Rate talk picked up after the Reserve Bank's senior leadership spoke publicly in early September. In an interview on ABC's 7.30, Deputy Governor Andrew Hauser said inflation is too high, which is why the Bank raised rates three times earlier this year, and that the open question now is whether that has been enough. He stopped short of calling a September increase inevitable.
Since then, several economists have moved to forecasting an increase at the 29 September meeting. That is a forecast, not a decision, and it can change with new data.
When will we know?
The board meets on 28 and 29 September, and its statement is due at 2:30pm Sydney time on the second day. Two dates either side of it are worth watching: the August labour force figures come out on 24 September, and the August inflation figures on 30 September, the day after the decision.
What should homeowners check now?
Your current rate and structure. Know what you're paying, whether it's variable or fixed, and when any fixed period ends.
Your buffer. An offset or redraw balance gives you room if repayments rise. Check it now, not after the announcement.
Your borrowing position. Lenders assess applications with a buffer above the actual rate, so a higher rate can reduce how much you can borrow. If you're planning to refinance or buy soon, the timing of your application matters.
Whether your loan still suits you. A review is useful whatever the decision. Loans that were right three years ago often aren't the best fit today.
What should business owners check now?
How much of your debt is variable. Know which facilities move with the cash rate and roughly what a change would mean for monthly cash flow.
Upcoming renewals and reviews. A facility renewal is easier to prepare for before conditions tighten than during them.
Your cash flow timing. Rates aren't the only cost change this month. From 1 October, small businesses can no longer add surcharges to card payments, so it's worth reviewing margins and payment timing together.
Your working capital headroom. If a rate rise would squeeze you, find out now what your options are, rather than when you need the money.
Should you act before the decision or wait?
You don't need to predict the Reserve Bank to prepare for it. Waiting until after the announcement means making decisions under pressure, often alongside everyone else. Reviewing your position now means you'll know what the decision means for you on the day it's announced, whichever way it goes.
Frequently asked questions
When is the next RBA meeting? The board meets on 28 and 29 September 2026, with the decision announced at 2:30pm Sydney time on 29 September.
Will the RBA raise rates in September? Nobody knows in advance. A rise is being widely discussed, but the Reserve Bank has not said one is certain.
Does a rate rise affect how much I can borrow? It can. Lenders assess applications with a buffer above the actual rate, so higher rates can reduce borrowing capacity.
Should I fix my home loan before the RBA meeting? It depends on your circumstances, your plans and your appetite for certainty. Talk to a broker about your situation before you decide.
What changes for small businesses on 1 October? Small businesses can no longer add surcharges to card payments from 1 October 2026.
About George Capital Finance Solutions
George Capital Finance Solutions is a Sydney-based mortgage broking, debt advisory and commercial finance business working across more than 33 lenders Australia-wide. Level 3, 219 Castlereagh Street, Sydney. Call (02) 9072 9288.
General information only. Not financial advice. Consider your own circumstances before making any decision.