The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.75 percent during its December meeting, as policymakers assess the impact of the three cuts already delivered this year. The board added that they will continue to monitor the labor market and that it was reasonable to expect an extended period of low interest rates due to both global and domestic factors. Policymakers are also prepared to ease monetary policy further if needed to support growth.
Interest Rate in Australia averaged 4.32 percent from 1990 until 2019, reaching an all time high of 17.50 percent in January of 1990 and a record low of 0.75 percent in October of 2019. This page provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Reserve Bank of Australia
Interest Rate in Australia is expected to be 0.75 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 0.25 in 12 months time. In the long-term, the Australia Interest Rate is projected to trend around 0.75 percent in 2020, according to our econometric models.