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Australia Interest Rate

Last Release
Nov 01, 2022
Actual
2.85
Units In
%
Previous
2.6
Frequency
Daily
Next Release
Dec 06, 2022
Time to Release
4 Days 2 Hours
Highest
Lowest
Average
Date Range
Source
17.5
Jan 1990
0.1
Nov 2020
3.86 %1990-2022Reserve Bank of Australia
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.

Latest Updates

The Reserve Bank of Australia raised the cash rate by 25bps to 2.85% during its November 2022 meeting, matching market forecasts. The move marked the seventh straight rate hike, taking borrowing costs to a level not seen since April 2013, with the board mentioning further rate hikes will be needed as inflation in Australia is too high. The committee added that it now saw inflation peaking around 8% this year, compared with its previous forecasts of 7.75%. Inflation is expected at around 4.75% in 2023, and a little above 3% in 2024. The board reiterated that it remained resolute in its commitment to bring inflation to target levels and will do what is necessary to achieve that. The size and timing of rate increases will be determined by the incoming data. It is also closely monitoring the global economy, household spending, wage, and price-setting behavior. The board increased the interest rate on Exchange Settlement balances by 25bps to 2.75%.

Australia Interest Rate History

Last 12 readings

Australia Money Indicators

All Australia indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Central Bank Balance Sheet
623,426
Nov 2022
624,995
Nov 2022
30,418
Dec 1994
647,450
Mar 2022
AUD MillionWeekly1994-2022
Deposit Interest Rate
1.2
Oct 2022
0.45
Sep 2022
0.05
Sep 2021
17.25
Oct 1989
%Monthly1981-2022
Foreign Exchange Reserves
86,291
Oct 2022
83,575
Sep 2022
1,126
Dec 1969
90,562
Mar 2020
AUD MillionMonthly1969-2022
Interest Rate
2.85
Nov 2022
2.6
Oct 2022
0.1
Nov 2020
17.5
Jan 1990
%Daily1990-2022
Loans To Private Sector
1,192.09
Sep 2022
1,174.73
Aug 2022
20.21
Sep 1976
1,192.09
Sep 2022
AUD BillionMonthly1976-2022
Money Supply M0
554.56
Sep 2022
565.27
Aug 2022
4.09
Jun 1975
565.27
Aug 2022
AUD BillionMonthly1975-2022
Money Supply M1
1,656.89
Sep 2022
1,652.47
Aug 2022
8.27
Feb 1975
1,704.51
May 2022
AUD BillionMonthly1975-2022
Money Supply M3
2,768.62
Sep 2022
2,773.39
Aug 2022
10.19
Mar 1965
2,773.39
Aug 2022
AUD BillionMonthly1965-2022
Private Debt to GDP
190.5
Dec 2021
199.72
Dec 2020
120.84
Dec 1995
206.73
Dec 2019
%Yearly1995-2021

Interest Rate across Pacific

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
2.85
Nov 2022
2.6
Oct 2022
0.1
Nov 2020
17.5
Jan 1990
% Daily1990-2022
Fiji
0.25
Nov 2022
0.25
Oct 2022
0.25
Mar 2020
2.5
Dec 2010
% Daily2010-2022
New Caledonia
1.5
Oct 2022
1.5
Sep 2022
0.25
Jun 2016
3
Oct 2008
% Daily2008-2022
New Zealand
4.25
Nov 2022
3.5
Oct 2022
0.25
Mar 2020
67.32
Mar 1985
% Daily1985-2022
Papua New Guinea
3.25
Oct 2022
3.25
Sep 2022
3
Apr 2020
16
Jun 2003
% Daily2001-2022

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