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.


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Australia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.75 0.75 17.50 0.75 1990 - 2019 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-09-03 04:30 AM 1% 1% 1% 1%
2019-10-01 04:30 AM 0.75% 1% 0.75% 0.75%
2019-11-05 03:30 AM 0.75% 0.75% 0.75% 0.75%
2019-12-03 03:30 AM 0.75% 0.75% 0.75% 0.75%
2020-02-04 03:30 AM 0.75% 0.75%


News Stream
2019-12-03
RBA Holds Cash Rate Steady at 0.75%
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.

2019-11-19
RBA Considered Seriously November Rate Cut
There was a case for lowering the cash rate in Australia to a new record low, but the most appropriate approach would be to maintain the current stance of monetary policy, Minutes from the RBA's November meeting showed. This case largely rested on only gradual progress having been made towards the bank's goals, it added. While members judged that lower interest rates were supporting the economy through the usual transmission channels (including a lower exchange rate, higher asset prices and higher cash flows for borrowers), they recognised the negative effects of lower interest rates on savers and confidence. "The board would continue to monitor developments, including in the labor market, and was prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time."

2019-11-08
Australian Economy Gradually Comes Out of A Soft Patch
The Reserves Bank of Australia said the Australian economy was gradually coming out of a soft patch, it said in its quarterly monetary policy statement. Global financial markets too appear to have passed a trough of pessimism, it added, painting a more upbeat picture of the world economy than in its previous review in August. With regard to wages growth, the central bank noted it has showed little sign of picking up, with private sector wages growth is expected to remain close to its current rate, while in the public sector, wages growth is expected to continue to be constrained by government wages caps. Faster wages growth would be needed for inflation to be sustainably within the 2–3 per cent target range.

2019-11-05
RBA Holds Cash Rate at Record Low
The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.75 percent during its October meeting, as widely expected, with policymakers assessing the impact of the three cuts already delivered since June. The board added that given global developments and the evidence of the spare capacity in the economy, it is reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. Also, they will continue to monitor the labor market, and are prepared to ease monetary policy further if needed to support sustainable growth, full employment and the achievement of the inflation target over time.

2019-10-15
RBA Prepares to Ease Further If Needed: October Minutes
The Reserve Bank of Australia will assess global and domestic development, including the labor market, before lowering interest rates further, Minutes of its October meeting showed. Members noted that the bank's most recent forecasts suggested that the unemployment and inflation outcomes over the following couple of years were likely to be short of the bank's goals, it added. Also, the ongoing subdued rate of wages growth suggested that the economy still had spare capacity. At the same time, members recognised the possibility that policy stimulus might be less effective than past experience suggests. However, transmission through the exchange rate channel was still considered likely to work effectively, and evidence suggested that the positive effects of lower interest rates on aggregate household cash flows via lower debt repayments was likely to support household spending, given that household interest payments exceed receipts by more than two to one.

2019-10-01
RBA Cuts Rates to All-Time Low
The Reserve Bank of Australia lowered its cash rate by 25 bps to a new record low of 0.75 percent during its September meeting, the third rate cut this year, aiming to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target. Policymakers also signalled the need for an extended period of low interest rates, while saying the central bank is prepared to ease monetary policy further if needed.


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.

Australia Money Last Previous Highest Lowest Unit
Interest Rate 0.75 0.75 17.50 0.75 percent [+]
Money Supply M0 115.06 115.25 115.25 4.09 AUD Billion [+]
Money Supply M1 1057.77 1051.17 1057.77 8.25 AUD Billion [+]
Interbank Rate 1.22 1.10 18.18 1.10 percent [+]
Money Supply M3 2155.58 2148.44 2157.45 10.19 AUD Billion [+]
Foreign Exchange Reserves 83844.00 77868.00 88457.00 1126.00 AUD Million [+]
Banks Balance Sheet 4806.76 4483.06 4806.76 322.97 AUD Billion [+]
Central Bank Balance Sheet 171022.00 161463.00 202663.00 30418.00 AUD Million [+]
Loans to Private Sector 972.33 968.39 972.33 20.21 AUD Billion [+]
Deposit Interest Rate 1.30 1.30 17.25 1.30 percent [+]
Private Debt to GDP 205.30 205.30 209.60 120.50 percent [+]