The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its April meeting, as widely expected. Policymakers reaffirmed their commitment to maintaining highly supportive monetary conditions until at least 2024 when actual inflation is sustainably within the 2 to 3% target. The board also remains committed to the 3-year government bond yield target of 10 basis points. Later in the year, it will consider whether to retain the April 2024 bond as the target bond or to shift to the next maturity. It added that the second $100 billion government bond purchase program will start next week. Regarding CPI inflation, it is expected to rise temporarily because of the reversal of some COVID-19-related price reductions. On rising housing prices, the bank said it will monitor trends in borrowing carefully and it is important that lending standards are maintained. source: Reserve Bank of Australia

Interest Rate in Australia averaged 4.07 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 April 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 0.10 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
2020-12-01 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 03:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-04-06 04:30 AM RBA Interest Rate Decision 0.1% 0.1% 0.1% 0.1%
2021-04-20 01:30 AM RBA Meeting Minutes
2021-05-04 04:30 AM RBA Interest Rate Decision 0.1%
2021-05-05 01:30 AM RBA Chart Pack
2021-05-07 01:30 AM RBA Statement on Monetary Policy


News Stream
RBA Holds Cash Rate at Record Low of 0.1%
The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its April meeting, as widely expected. Policymakers reaffirmed their commitment to maintaining highly supportive monetary conditions until at least 2024 when actual inflation is sustainably within the 2 to 3% target. The board also remains committed to the 3-year government bond yield target of 10 basis points. Later in the year, it will consider whether to retain the April 2024 bond as the target bond or to shift to the next maturity. It added that the second $100 billion government bond purchase program will start next week. Regarding CPI inflation, it is expected to rise temporarily because of the reversal of some COVID-19-related price reductions. On rising housing prices, the bank said it will monitor trends in borrowing carefully and it is important that lending standards are maintained.
2021-04-06
Rising Commodity Prices Unlikely to Boost Inflation
Rising commodity prices were unlikely to lead to a rise in inflation in Australia unless labor markets tightened significantly, minutes of March's RBA meeting showed. Wage growth would need to be materially higher than it is for inflation to pick up, a significant reason why very significant monetary support would be required for some time, the minutes elaborated. Members acknowledged, however, the risks inherent in investors searching for yield in a low-interest-rate environment, including risks linked to higher leverage and asset prices, particularly in the housing market." The central bank believed that there were greater benefits for financial stability from a stronger economy while highlighting the importance of closely monitoring risks in asset markets.
2021-03-16
RBA Holds Cash Rate at Record Low of 0.1%
The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its March meeting, as widely expected. Policymakers said the current monetary policy continued to help the economy by keeping financing costs very low, contributing to a lower exchange rate than otherwise. The central bank also said it was prepared to make further adjustments to their bond purchases in response to market situations; and reiterated that it will not increase the cash rate until inflation is sustainably within the 2 to 3% target, conditions it does not expect to be met until at least 2024. Regarding the GDP, it is expected to grow 3.5% over both 2021 and 2022. Meantime, the jobless rate is expected to fall, with the central scenario predicting it will be around 6% at the end of 2021 and 5.5% at the end of 2022. CPI inflation is expected to rise temporarily due to a reversal of COVID-19-related price reductions.
2021-03-02
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 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.