The Wallabies have sunk to a new low, following their inglorious exit from the Rugby World Cup.

If getting trounced 40-16 in the World Cup quarter-final by arch rivals England wasn't bad enough, they have now fallen to seventh in the world rankings, dropping behind hosts Japan.

The seventh place ranking ties the Wallabies' worst ever mark, since the rankings were introduced in 2003.

It could get worse for them as well, with eighth-placed France a chance of jumping above them if they beat Wales tonight.

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New Zealand sit atop the rankings, with their semifinal opponents England close behind in second. Wales are in third ahead of their quarter-final tonight.

Ireland, who headed into the World Cup in first place, have dropped to fourth after their quarter-final loss to the All Blacks and pool play defeat to Japan. South Africa sit in fifth, with their quarter-final opponents Japan now just below in sixth.

It's an end of an era for the Wallabies, with the defeat set to be coach Michael Cheika's final game in charge, while superstars, including David Pocock, are also never expected to wear the Aussie gold again.

The 24-point annihilation set records as England's equal biggest win over Australia and the highest points haul England has recorded in the knockout stages of the Rugby World Cup.

Wallabies captain Michael Hooper said it was "gutting" that his team simply couldn't find any answers against England – his critics were much more scathing.

Despite a mountain of criticism at the Wallabies faulty, hyper-aggressive gameplan, Hooper insisted his team put everything in – but simply couldn't find the missing ingredient to unlocking the English defence.

"We're really upset," Hooper said.

"We emptied everything into this and we didn't get it. So that's pretty gutting, because we have a lot of guys who are leaving.

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"We played an attacking style of rugby which I think really threatened the English today. What the English did well was they controlled the re-starts and we weren't able to exit our areas well and on the flip side of that we weren't able to re-start and get back into the game."

Dejected Wallabies players after losing to England. Photo / Photosport
Dejected Wallabies players after losing to England. Photo / Photosport

A devastated Wallabies coach Michael Cheika after the game couldn't control his emotions when asked in his post-match interview to explain where it all went wrong.

He said he was: "So f***ing disappointed.

"I was supposed to get this done for the people here, for Australians."

"I want all the Australians that are here to know that they put their bodies on the line. They gave it everything. We made a few mistakes at different times, but they've given it everything.

"I sort of don't have much more to say to be honest."

He then walked off – and it's expected to be the final time Aussie supporters see him as Wallabies coach.

In his post match press conference, Cheika bristled and refused to respond to questions about his uncertain future.

"It's a cruel, cruel world when you're asking those questions two minutes after being knocked out of a World Cup," Cheika said.

"If you can find it in your heart, ask the relevant questions. Just think about people's feelings for a moment."

- with news.com.au