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.

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Australia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 17.50 0.10 1990 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
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%
2021-02-02 03:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-03-02 12:30 AM RBA Interest Rate Decision 0.1% 0.1%
2021-03-03 12:30 AM RBA Chart Pack
2021-03-16 12:30 AM RBA Meeting Minutes
2021-04-06 04:30 AM RBA Interest Rate Decision


News Stream
Australian Dollar 5% Lower than Otherwise: RBA Kent
Australia’s large monetary policy stimulus has contributed to the local dollar being as much as 5% lower than otherwise on trade-weighted terms, a senior central bank official said on Wednesday. RBA Assistant Governor Christopher Kent added that the policy measures, including the extension of the bond purchase program announced in February, continue to place downward pressure on the dollar.
2021-02-17
Australia Needs Significant Monetary Support: RBA
The Reserve Bank of Australia remained committed to doing what it reasonably could to support a recovery of the Australian economy from the COVID-19 pandemic while maintaining the existing policy settings, the central bank's February meeting minutes showed. Members concluded that very significant monetary support would be required for some time, as it would be some years before the central bank's goals for inflation and unemployment were achieved, it added. "Given this, it would be premature to consider withdrawing monetary stimulus." Members also reaffirmed that the cash rate would be maintained at 0.1% until 2024 at the earliest and continued to view a negative policy rate as extraordinarily unlikely in the country.
2021-02-16
Australia Holds Rates, Expands Bond Buying
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.
2021-02-02
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 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.