Australia Interest Rate  1990-2017 | Data | Chart | Calendar | Forecast

The Reserve Bank of Australia held the cash rate steady at a record low of 1.5 percent during the meeting held on June 6th, as widely expected. Policymakers said the transition to lower levels of mining investment following the mining investment boom is almost complete and inflation is expected to rise gradually as the economy strengthens. Interest Rate in Australia averaged 4.72 percent from 1990 until 2017, reaching an all time high of 17.50 percent in January of 1990 and a record low of 1.50 percent in August of 2016.

Australia Interest Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-04-04 04:30 AM RBA Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2017-05-02 04:30 AM RBA Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2017-06-06 04:30 AM RBA Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2017-06-27 08:30 AM RBA Debelle Speech
2017-07-04 04:30 AM RBA Interest Rate Decision 1.5% 1.5%
2017-07-18 01:30 AM RBA Meeting Minutes




Australia Keeps Cash Rate Steady At 1.5%


The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on June 6th, as widely expected. Policymakers said the transition to lower levels of mining investment following the mining investment boom is almost complete and inflation is expected to rise gradually as the economy strengthens.

Excerpt from the statement by the governor, Philip Lowe:

Domestically, business conditions have improved and capacity utilisation has increased. Business investment has picked up in those parts of the country not directly affected by the decline in mining investment. Year-ended GDP growth is expected to have slowed in the March quarter, reflecting the quarter-to-quarter variation in the growth figures. Looking forward, economic growth is still expected to increase gradually over the next couple of years to a little above 3 per cent.  

Indicators of the labour market remain mixed. Employment growth has been stronger over recent months, although growth in total hours worked remains weak. The various forward-looking indicators point to continued growth in employment over the period ahead. Wage growth remains low and this is likely to continue for a while yet. Inflation is expected to increase gradually as the economy strengthens. Slow growth in real wages is restraining growth in household consumption.

The outlook continues to be supported by the low level of interest rates. The depreciation of the exchange rate since 2013 has also assisted the economy in its transition following the mining investment boom. An appreciating exchange rate would complicate this adjustment.

Conditions in the housing market vary considerably around the country. Prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease. In other markets, prices are declining. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases are the slowest for two decades. Growth in housing debt has outpaced the slow growth in household incomes. The recent supervisory measures should help address the risks associated with high and rising levels of indebtedness. Lenders have also announced increases in mortgage rates, particularly those paid by investors and on interest-only loans.

Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

RBA l Rida Husna | rida@tradingeconomics.com
6/6/2017 5:00:58 AM


Recent Releases

Australia Holds Cash Rate Steady At 1.5% In May
The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on May 2nd, as widely expected. Policymakers expect the economic growth to increase to a little above 3 percent over the next couple of years and inflation is estimated to rise further gradually.
Published on 2017-05-02

Australia Keeps Cash Rate Steady At 1.5%
The Reserve Bank of Australia held the cash rate steady at a record low of 1.5 percent during the meeting held on April 4th, as widely expected. While saying domestic economy is continuing its transition following the mining investment boom, policymakers judged recent data are consistent with ongoing moderate growth.
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Australia Keeps Cash Rate At Record Low Of 1.5%
The Reserve Bank of Australia left the cash rate steady at a record low of 1.5 percent during the meeting held on March 7th, as widely expected. While saying headline inflation is expected to be above 2 percent this year, policymakers judged holding the stance of policy unchanged would be consistent with sustainable growth in the economy and achieving the inflation target over time.
Published on 2017-03-07

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The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on February 7th, as expected. While highlighting economic growth over the next couple of years to be around 3 percent, boosted by further increases in resource exports amid the end of declining mining investment; policymakers said inflation is expected to remain low for some time.
Published on 2017-02-07



Australia Money Last Previous Highest Lowest Unit
Interest Rate 1.50 1.50 17.50 1.50 percent [+]
Interbank Rate 2.05 1.98 18.18 1.98 percent [+]
Money Supply M0 105.76 104.57 105.76 4.09 AUD Billion [+]
Money Supply M1 348.99 343.95 348.99 8.25 AUD Billion [+]
Money Supply M3 2011.39 1994.82 2011.39 10.19 AUD Billion [+]
Banks Balance Sheet 4105.50 4167.98 4167.98 322.96 AUD Billion [+]
Central Bank Balance Sheet 199595.00 198649.00 199595.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 88457.00 79855.00 88457.00 1126.00 AUD Million [+]
Loans to Private Sector 879.58 877.67 879.58 20.21 AUD Billion [+]
Deposit Interest Rate 2.10 2.30 15.69 2.10 percent [+]
Private Debt to GDP 223.38 220.87 223.38 125.69 percent [+]


Australia Interest Rate Notes

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. This page provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Interest Rate - actual data, historical chart and calendar of releases - was last updated on June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 17.50 1.50 1990 - 2017 percent Daily



interest rate by Country

Last
Brazil 10.25 May/17
Russia 9.00 Jun/17
Turkey 8.00 Jun/17
Mexico 7.00 Jun/17
India 6.25 Jun/17
Indonesia 4.75 Jun/17
China 4.35 Jun/17
Australia 1.50 Jun/17
South Korea 1.25 May/17
United States 1.25 Jun/17
Canada 0.50 May/17
United Kingdom 0.25 Jun/17
Euro Area 0.00 Jun/17
France 0.00 Jun/17
Germany 0.00 Jun/17
Italy 0.00 Jun/17
Netherlands 0.00 Jun/17
Spain 0.00 Jun/17
Japan -0.10 Jun/17
Switzerland -0.75 Jun/17