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Australia Interest Rate

Last Release
Mar 19, 2024
Actual
4.35
Units In
%
Previous
4.35
Frequency
Daily
Next Release
May 07, 2024
Time to Release
1 Months 2 Days 18 Hours
Highest
Lowest
Average
Date Range
Source
17.5
Jan 1990
0.1
Nov 2020
3.86 %1990-2024Reserve 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

Leaving the cash rate unchanged at 4.35% in Australia was the best way to achieve the central bank’s strategy of supporting a gradual return of inflation to the 2–3% target and the labour market to full employment, minutes of the Reserve Bank's March meeting showed. Members also viewed that returning inflation to the desired level remains the board’s highest priority. At the same time, it was important to preserve as many of the gains in the labour market as possible. The minutes revealed that recent economic data indicated the economy was tracking broadly as expected. While there were significant uncertainties, the risks seemed broadly balanced, it added. Members agreed that it was therefore not possible to either rule in or out future changes in the cash rate target. They agreed to reiterate their resolve to do what is necessary to return inflation to target.

Australia Interest Rate History

Last 12 readings

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