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Australia Interest Rate
Last Release
Nov 05, 2024
Actual
4.35
Units In
%
Previous
4.35
Frequency
Daily
Next Release
Dec 10, 2024
Time to Release
20 Days 14 Hours
Highest | Lowest | Average | Date Range | Source |
17.5 Jan 1990 | 0.1 Nov 2020 | 3.87 % | 1990-2024 | Reserve 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
Monetary policy in Australia will be sufficiently restrictive until the central bank is confident that inflation is moving sustainably towards the target, minutes of the RBA's November policy meeting showed. It added the board remains vigilant to upside risks to inflation, noting that headline inflation is forecast to stay within the intended goal of 2–3% until Q3 2025, when the scheduled end to energy rebates would see it pick up. Meantime, the outlook for underlying inflation has little changed since the August meeting. Members agreed future rate policy will depend on data and the evolving risk assessment but rate adjustments can be made if the board views the policy stance as not tight enough. Globally, the RBA sees risks from a change in US policy after the presidential race and uncertainties around how other countries respond. On the GDP front, growth has been subdued in Q2 but looked to have picked up since then due to a sustained rise in household consumption from H2 of 2024.
Australia Interest Rate History
Last 12 readings