Australia Interest Rate  1990-2016 | Data | Chart | Calendar | Forecast

The Reserve Bank of Australia left the cash rate unchanged at a record low of 2 percent during the meeting held on April 5th, as expected. While highlighting that inflation is likely to remain low over the next year or two, policymakers judged there were reasonable prospects for continued growth. Interest Rate in Australia averaged 4.93 percent from 1990 until 2016, reaching an all time high of 17.50 percent in January of 1990 and a record low of 2 percent in May of 2015. Interest Rate in Australia is reported by the Reserve Bank of Australia.

Australia Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 17.50 2.00 1990 - 2016 percent Daily
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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-02 03:30 AM RBA Interest Rate Decision 2% 2% 2% 2%
2016-03-01 03:30 AM RBA Interest Rate Decision 2% 2% 2% 2%
2016-04-05 04:30 AM RBA Interest Rate Decision 2% 2% 2% 2%
2016-05-03 04:30 AM RBA Interest Rate Decision 2% 2% 2%
2016-05-06 01:30 AM RBA Monetary Policy Statement
2016-05-08 01:30 AM RBA Monetary Policy Statement

Australia Leaves Cash Rate Unchanged


The Reserve Bank of Australia left the cash rate unchanged at a record low of 2 percent during the meeting held on April 5th, as expected. While highlighting that inflation in the country is likely to remain low over the next year or two, policymakers judged there were reasonable prospects for continued growth.

Excerpt from the statement by Glenn Stevens, Governor:

In Australia, the available information suggests that the economy is continuing to rebalance following the mining investment boom. Consistent with developments in the labour market, overall GDP growth picked up over 2015, despite the contraction in mining investment. The pace of lending to businesses has also picked up.

Inflation is quite low. Recent information has confirmed that growth in labour costs remains quite subdued. Given this, and with inflation also restrained elsewhere in the world, inflation in Australia is likely to remain low over the next year or two.

Given these conditions, it is appropriate for monetary policy to be accommodative. Low interest rates are supporting demand, while supervisory measures are working to emphasise prudent lending standards and so to contain risks in the housing market. Credit growth to households continues at a moderate pace, albeit with a changed composition between investors and owner-occupiers. The pace of growth in dwelling prices has moderated in Melbourne and Sydney and has remained mostly subdued in other cities.

The Australian dollar has appreciated somewhat recently. In part, this reflects some increase in commodity prices, but monetary developments elsewhere in the world have also played a role. Under present circumstances, an appreciating exchange rate could complicate the adjustment under way in the economy.
At today's meeting, the Board judged that there were reasonable prospects for continued growth in the economy, with inflation close to target. The Board therefore decided that the current setting of monetary policy remained appropriate.

Over the period ahead, new information should allow the Board to assess the outlook for inflation and whether the improvement in labour market conditions evident last year is continuing. Continued low inflation would provide scope for easier policy, should that be appropriate to lend support to demand.



RBA l Rida Husna | rida@tradingeconomics.com
4/5/2016 5:53:18 AM

Australia Money Last Previous Highest Lowest Unit
Interest Rate 2.00 2.00 17.50 2.00 percent [+]
Interbank Rate 2.45 2.46 18.18 2.40 percent [+]
Money Supply M0 98.79 97.83 100.60 4.09 AUD Billion [+]
Money Supply M1 322.77 323.32 323.32 8.25 AUD Billion [+]
Money Supply M3 1872.31 1859.81 1872.31 10.19 AUD Billion [+]
Banks Balance Sheet 3906.01 3931.28 3931.28 322.96 AUD Billion [+]
Central Bank Balance Sheet 165000.00 163282.00 167914.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 64339.00 61222.00 84610.00 1126.00 AUD Million [+]
Loans to Private Sector 845.99 843.54 845.99 20.21 AUD Billion [+]
Deposit Interest Rate 2.90 3.25 15.69 2.90 percent [+]




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