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

The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.75 percent during the meeting held on July 5th, as expected. While saying that domestic demand, as well as exports, have been expanding at a pace at or above trend, policymakers await further data to assess its next move. Interest Rate in Australia averaged 4.89 percent from 1990 until 2016, reaching an all time high of 17.50 percent in January of 1990 and a record low of 1.75 percent in May of 2016. 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
1.75 1.75 17.50 1.75 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-03 04:30 AM RBA Interest Rate Decision 1.75% 2% 2% 2%
2016-06-07 04:30 AM RBA Interest Rate Decision 1.75% 1.75% 1.75% 1.75%
2016-07-05 04:30 AM RBA Interest Rate Decision 1.75% 1.75% 1.75% 1.75%
2016-08-02 04:30 AM RBA Interest Rate Decision 1.75% 1.75%
2016-08-18 01:30 AM RBA Meeting Minutes
2016-09-06 04:30 AM RBA Interest Rate Decision 1.75%

Australia Holds Cash Rate Steady at 1.75%


The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.75 percent during the meeting held on July 5th, as expected. While saying that domestic demand, as well as exports, had been expanding at a pace at or above trend, policymakers await further data to assess its next move.

Excerpt from the statement by Glenn Stevens, Governor:

In Australia, recent data suggest overall growth is continuing, despite a very large decline in business investment. Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend. Labour market indicators have been more mixed of late, but are consistent with a modest pace of expansion in employment in the near term.

Inflation has been quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time.

Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector. Financial institutions are in a position to lend and credit growth has been moderate. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this.

Indications are that the effects of supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Dwelling prices have risen again in many parts of the country over recent months. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities.

Over the period ahead, further information should allow the Board to refine its assessment of the outlook for growth and inflation and to make any adjustment to the stance of policy that may be appropriate.

RBA l Rida Husna | rida@tradingeconomics.com
7/5/2016 7:52:00 AM

Australia Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.75 17.50 1.75 percent [+]
Interbank Rate 2.26 2.17 18.18 2.17 percent [+]
Money Supply M0 97.98 97.77 100.60 4.09 AUD Billion [+]
Money Supply M1 328.72 326.46 328.72 8.25 AUD Billion [+]
Money Supply M3 1883.35 1879.02 1883.35 10.19 AUD Billion [+]
Banks Balance Sheet 3983.57 3906.01 3983.57 322.96 AUD Billion [+]
Central Bank Balance Sheet 156817.00 157284.00 190286.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 69628.00 80111.00 84610.00 1126.00 AUD Million [+]
Loans to Private Sector 853.41 852.25 853.41 20.21 AUD Billion [+]
Deposit Interest Rate 2.30 2.90 15.69 2.30 percent [+]
Private Debt to GDP 224.68 214.53 224.68 126.70 percent [+]




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