The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its December meeting, as widely expected, after slashing it from 0.25% in November. Policymakers reaffirmed their commitment to do more to support jobs, income, and businesses in Australia. The board said it was not expecting to increase the cash rate for at least three years, adding that it will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The board mentioned it will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target. The Committee also said that the economic recovery is under way and recent data have generally been better than expected. source: Reserve Bank of Australia

Interest Rate in Australia averaged 4.13 percent from 1990 until 2020, 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 December of 2020.

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 2021 and 0.25 percent in 2022, according to our econometric models.

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Australia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 17.50 0.10 1990 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-09-01 04:30 AM RBA Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2020-10-06 03:30 AM RBA Interest Rate Decision 0.25% 0.25% 0.25% 0.25%
2020-11-03 03:30 AM RBA Interest Rate Decision 0.1% 0.25% 0.10% 0.10%
2020-12-01 03:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.10% 0.10%
2021-01-06 12:30 AM RBA Chart Pack
2021-02-02 03:30 AM RBA Interest Rate Decision 0.1% 0.1%
2021-02-03 12:30 AM RBA Chart Pack
2021-02-05 12:30 AM RBA Statement on Monetary Policy


News Stream
RBA Sees Long Road to Full Recovery: December Minutes
It would take some time for output in Australia to reach its pre-pandemic level, minutes of the Reserve Bank of Australia's December policy meeting showed. "The high unemployment rate and excess capacity across the economy more broadly were expected to result in subdued wages growth and inflation over the coming years. Given this environment, the board viewed addressing the high rate of unemployment as an important national priority," it added. As a result, the board agreed substantial monetary and fiscal stimulus would be needed for a considerable period and it remained ready to launch more stimulus if needed. Any further easing would come through the expansion of the RBA's bond-buying program, which currently had a target of A$100 billion. The central bank reaffirmed its commitment to not increasing the cash rate until actual inflation is sustainably within the 2 to 3% target.
2020-12-15
Australia Holds Cash Rate at Record Low of 0.1%
The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its December meeting, as widely expected, after slashing it from 0.25% in November. Policymakers reaffirmed their commitment to do more to support jobs, incomes, and businesses in Australia. The board said it was not expecting to increase the cash rate for at least three years, adding that it will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The board mentioned it will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target. The Committee also said that the economic recovery is under way and recent data have generally been better than expected.
2020-12-01
RBA Warns against Ending Stimulus Too Early
The Reserve Bank of Australia cautioned against the early removal of fiscal support as the effects of COVID-19 will linger, Deputy Governor Guy Debelle said in a speech. He added that significant fiscal aid and monetary atimulus have boosted the cash flow of households and businesses, directly supporting spending in the economy. Regarding the outlook for the Australian economy, Debelle said it remained very uncertain and will take a long time to reach its pre-pandemic levels, despite encouraging news on virus vaccines and treatment. He also noted that the central bank's shift to quantitative easing by buying longer-dated government bonds had been able to lower the local currency.
2020-11-24
RBA Ready to Roll Out Further Stimulus: November Minutes
The Reserve Bank of Australia is ready to provide more stimulus if needed, minutes of November's Reserve Bank of Australia meeting showed. Despite somewhat better recent outcomes in Australia, the recovery from the COVID-19 crisis in the country was expected to be protracted and uneven, it added. "The board expects the cash rate to remain at its current level for at least 3 years, but beyond that members have less confidence about the path of interest rates." Regarding a negative policy rate, members considered that it was extraordinarily unlikely and any further action would involve increased bond purchases.
2020-11-17

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.