The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% during its September meeting, as widely expected, while confirming plans to trim the purchase of government bonds to A$4 billion a week and determining to do it until at least mid-February 2022. Regarding the economic outlook, the central bank said GDP is expected to fall materially in Q3, with the jobless rate to move higher in the coming months. As vaccination rates increase further and restrictions are eased, the economy should bounce back, it added. That said, the board noted that the timing and pace of this bounce-back are likely to be slower than that earlier in the year. Policymakers reaffirmed their commitment to maintaining supportive monetary conditions and not increasing the cash rate until inflation is within the 2 to 3% target range, a condition that will not be met before 2024. source: Reserve Bank of Australia
Interest Rate in Australia averaged 4 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 September 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. In the long-term, the Australia Interest Rate is projected to trend around 0.10 percent in 2022 and 0.25 percent in 2023, according to our econometric models.