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RBA Interest Rate Decision, May 2025

The Reserve Bank of Australia lowered the cash rate target 25 bp to 3.85% on May 20, 2025, as expected.

Decision3.85%▼ cut −25 bp
Against expectedAs expectedexpected 3.85%
Previous4.10%cash rate target
AUD/USD one hour later −5.9 pips from the last price before
The result

What the RBA decided in May 2025

The move −25 bp Cut 25 bp to 3.85%, from 4.10%.
Against expected No surprise Economists expected: cut 25 bp to 3.85%. The decision was as expected.
Timing 2:30 PM Sydney Tuesday, May 20, 2025; press conference at 3:30 PM Sydney.
What price did

AUD/USD after the RBA decision, minute by minute

One-minute candles, Sydney time. The box is the hour before the announcement. How we measure.

AUD/USD one-minute chart around the Reserve Bank of Australia decision of May 20, 2025 The hour before the 14:30 announcement ranged 8.8 pips. The first spike went below it by 18 pips, and did not close back inside within the hour. 0.641 0.642 0.643 0.644 0.645 13:30 14:00 14:30 15:00 15:30 16:00 THE HOUR BEFORE RBA 14:30 PRESS CONF. Spike 0.64224 · 18 pips past the hour's low
  1. The hour beforeAUD/USD ranged 8.8 pips, from 0.64402 to 0.64490, and was at 0.64424 at the announcement.
  2. The first spike After 0 minutes price went through the hour's low and ran 18 pips past it.
  3. The close back No five-minute candle closed back inside the range within the hour: the first move held.
  4. The other side Not measured: it needs a close back first.
  5. The moves From the last price before the announcement: −15 pips at 15 minutes, −5.9 pips at one hour, −22 pips at four hours.
For context

Across 14 measured RBA decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 8 (57%), and in 7 of those price then took the other side within four hours. In the other 6 the first move held. Median move in the first 15 minutes: 20 pips.

This decision is one where the first move held. Counts include the decisions where it did not close back. All RBA dates · RBA overview.

← Previous decisionRBA, April 2025Held at 4.10% Next decision →RBA, July 2025Tue, Jul 8, 2:30 PM Sydney
Questions

RBA May 2025 decision: questions

What time was the RBA interest rate decision on May 20, 2025?

It was announced at 2:30 PM Sydney (12:30 AM EDT New York, 5:30 AM London London), with the press conference at 3:30 PM Sydney.

What did the RBA decide in May 2025?

Cut 25 bp to 3.85% (previous 4.10%). Economists expected: cut 25 bp to 3.85%, so the decision was as expected.

How did AUD/USD react to the RBA decision in May 2025?

On one-minute candles: the hour before ranged 8.8 pips; the first spike went below it by 18 pips; it did not close back inside within the hour; after one hour AUD/USD was −5.9 pips from its pre-announcement price.

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