The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its February meeting, as widely expected. Policymakers said they would extend their bond-buying program by another A$100 billion and pledged to maintain rates on hold until at least 2024. The central bank also mentioned that an important near-term issue is how households and businesses adjust to the tapering of some of the COVID support measures and to what extent they will use their stronger balance sheets to support spending. Regarding the GDP, it is expected to grow by 3.5% over both 2021 and 2022. Meantime, the jobless rate is expected to fall, with the central scenario is to be around 6% at the end of this year and 5.5% at the end of 2022. source: Reserve Bank of Australia
Interest Rate in Australia averaged 4.11 percent from 1990 until 2021, 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 February of 2021.
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 0.25 percent in 2022, according to our econometric models.