Currently, the cash rate target is 4.35 per cent.
The cash rate target is a figure set by the Reserve Bank of Australia (RBA).
The figure influences how much commercial banks charge customers for borrowing money.
But when the RBA changes the cash rate target, interest rates for mortgages don't automatically change. That's something the individual banks decide.
Banks usually put out a statement saying whether they'll change their rates after an RBA meeting.
If...

Data last week showed Australia’s core inflation unexpectedly decelerated in the quarter ended June, prompting money markets to swing to pricing an 88 per cent chance of a rate cut in December, according to meeting-dated OIS contracts, and fully price one for February.
The yield on Australia’s policy-sensitive three-year bond hit the lowest level since April on Friday, in response to the consumer price index (CPI) and dovish shift at global central banks. The Australian dollar also slid against...

Any hawkish signs from the RBA are likely to further batter Australian stocks, with regional markets already nursing steep losses from a broader risk-off sentiment.
The ASX 200 fell sharply in recent sessions after hitting record highs as recently as last week.
High-for-longer interest rates bode poorly for most Australian businesses, especially given that they are already grappling with weak overseas demand.
Australian bank stocks, however, may ...