The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% during its July meeting, as widely expected. Policymakers also held its yield curve control program at the April 2024 bond maturity of 10 bps; and decided to extend its current bond-buying programme to at least mid-November, but reduce the amount purchased to A$4 billion a week, from the current A$5 billion. The central bank reaffirmed its commitment to achieving full employment and inflation consistent with the target. Policymakers also reiterated that they will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target range. The RBA's scenario for the economy is that this condition will not be met before 2024. source: Reserve Bank of Australia

Interest Rate in Australia averaged 4.03 percent from 1990 until 2021, reaching an all time high of 17.50 percent in January of 1990 and a record low of 0.10 percent in November of 2020. This page provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

Interest Rate in Australia is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Australia to stand at 0.10 in 12 months time. In the long-term, the Australia Interest Rate is projected to trend around 0.10 percent in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Australia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 17.50 0.10 1990 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-04-06 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-05-04 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-06-01 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-07-06 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-08-03 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1%
2021-08-04 01:30 AM RBA Chart Pack
2021-08-05 11:00 PM RBA Gov Lowe Speech
2021-08-06 01:30 AM RBA Statement on Monetary Policy


News Stream
Australia Economic Recovery to Continue: RBA Minutes
The economic recovery in Australia has been stronger than earlier expected and that this was forecast to continue, minutes of the RBA's July policy meeting showed. "The effect of the recent virus outbreaks and the lockdowns had created additional uncertainty, but the experience to date had been that the economy bounced back quickly once outbreaks were contained and restrictions eased," it added. The central bank reiterated that the conditions for an increase in the cash rate would not be met until 2024. Even so, the faster-than-expected recovery in economic conditions over the course of 2021 had widened the range of alternative plausible scenarios for the outlook and therefore the cash rate over the period to November 2024. Regarding bond-buying, members agreed that there should be flexibility to increase or reduce weekly bond purchases in the future, as warranted by the state of the economy at the time, rather than a commitment to a specific rate of purchases over an extended period.
2021-07-20
Australia Holds Rates, Tapers Bond-Buying
The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% during its July meeting, as widely expected. Policymakers also held its yield curve control program at the April 2024 bond maturity of 10 bps; and decided to extend its current bond-buying programme to at least mid-November, but reduce the amount purchased to A$4 billion a week, from the current A$5 billion. The central bank reaffirmed its commitment to achieving full employment and inflation consistent with the target. Policymakers also reiterated that they will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target range. The RBA's scenario for the economy is that this condition will not be met before 2024.
2021-07-06
RBA to Maintain Policy Support: June Minutes
The current package of monetary policy measures in Australia continued to support the economy by encouraging an ample supply of credit to the economy and keeping financing costs very low, minutes of the Reserve Bank of Australia's June policy meeting showed. Together, monetary and fiscal policy had supported the recovery in aggregate demand and the pick-up in employment, it added. The board reaffirmed it would not increase the cash rate until actual inflation is sustainably within the 2 to 3% target range, a condition which is unlikely until at least 2024. Regarding the government bond purchase program, the board would decide upon future government bond purchases at the July meeting ahead of the completion of the second $100 billion of purchases in early September. "Observing that the bond purchase program had been one of the factors underpinning the accommodative conditions necessary for the recovery, members thought it would be premature to consider ceasing the program."
2021-06-15
Australia Holds Rates
The Reserve Bank of Australia kept the cash rate at a record low of 0.1% during its June meeting, as widely expected. Policymakers reaffirmed their commitment to maintaining highly supportive monetary conditions until at least 2024 when actual inflation is within the 2 to 3% target. The board said that it expects GDP to grow by 4¾ % this year and 3½% in 2022, supported by fiscal measures and very accommodative financial conditions. Meantime, jobs, inflation, and wage pressures are estimated to remain subdued. CPI inflation is projected to rise temporarily to be above 3% in Q2, on a reversal of some COVID-19-related price reductions. The board remained committed to the 3-year government bond yield target of 10 bps. At its July meeting, it will consider whether to retain the April 2024 bond as the target bond or to shift to the next maturity.
2021-06-01

Australia Interest Rate
In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.