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.