Australia Interest Rate 1990-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Australia was last recorded at 2 percent. Interest Rate in Australia averaged 5.05 percent from 1990 until 2015, 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.00 17.50 2.00 1990 - 2015 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. Content for - Australia Interest Rate - was last refreshed on Tuesday, August 4, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-07-22 04:05 AM
2015-07-30 01:30 AM
2015-08-04 05:30 AM 2.0% 2.0% 2% 2%
2015-08-18 02:30 AM
2015-09-01 05:30 AM 2.0% 2%
2015-09-15 02:30 AM


Australia Maintains Cash Rate at 2%


The Reserve Bank of Australia left the cash rate unchanged at a record low of 2 percent during the meeting held on August 4th. Policymakers said low interest rates support borrowing and spending since the economy is likely to be operating with a degree of spare capacity. Inflation will also remain consistent with the target over the next one or two years, even with a lower exchange rate.

Excerpt from the statement by Glenn Stevens, Governor:

The global economy is expanding at a moderate pace, but some key commodity prices are much lower than a year ago. Much of this trend appears to reflect increased supply, including from Australia. Australia's terms of trade are falling nonetheless.

The Federal Reserve is expected to start increasing its policy rate later this year, but some other major central banks are continuing to ease policy. Hence, global financial conditions remain very accommodative. Despite fluctuations in markets associated with the respective developments in China and Greece, long-term borrowing rates for most sovereigns and creditworthy private borrowers remain remarkably low.

In Australia, the available information suggests that the economy has continued to grow. While the rate of growth has been somewhat below longer-term averages, it has been associated with somewhat stronger growth of employment and a steady rate of unemployment over the past year. Overall, the economy is likely to be operating with a degree of spare capacity for some time yet. Recent information confirms that domestic inflationary pressures have been contained. That should remain the case for some time, given the very slow growth in labour costs. Inflation is thus forecast to remain consistent with the target over the next one to two years, even with a lower exchange rate.

In such circumstances, monetary policy needs to be accommodative. Low interest rates are acting to support borrowing and spending. Credit is recording moderate growth overall, with growth in lending to the housing market broadly steady over recent months. Dwelling prices continue to rise strongly in Sydney, though trends have been more varied in a number of other cities. The Bank is working with other regulators to assess and contain risks that may arise from the housing market. In other asset markets, prices for equities and commercial property have been supported by lower long-term interest rates. The Australian dollar is adjusting to the significant declines in key commodity prices.

The Board today judged that leaving the cash rate unchanged was appropriate at this meeting. Further information on economic and financial conditions to be received over the period ahead will inform the Board's ongoing assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target.

RBA l Rida Husna l rida@tradingeconomics.com
8/4/2015 5:53:39 AM


Recent Releases

Australia Holds Cash Rate Steady at 2%
The Reserve Bank of Australia left the cash rate unchanged at a record low of 2 percent during the meeting held on July 7th. Policymakers said monetary policy needs to be accommodative since the economy is likely to be operating with a degree of spare capacity and inflation will remain consistent with the target over the next one or two years.
Published on 2015-07-07

Australia Holds Cash Rate Steady at 2%
The Reserve Bank of Australia left the cash rate unchanged at a record low of 2 percent during the meeting held on June 2nd. Policymakers said monetary policy needs to be accommodative since the economy has continued to grow, but at a rate somewhat below its longer term average.
Published on 2015-06-02

Australia Cuts Cash Rate to Fresh Record Low of 2%
The Reserve Bank of Australia cut the cash rate by 25 basis points to a fresh record low of 2.0 percent, aiming to bolster growth and further lower the Australian dollar.
Published on 2015-05-05

Australia Holds Cash Rate Steady at 2.25%
The Reserve Bank of Australia left the cash rate unchanged at a record low 2.25 percent on April 7th. Policymakers said expect growth to continue below-trend and signaled further easing in coming months.
Published on 2015-04-07


Australia Money Last Previous Highest Lowest Unit
Interest Rate 2.00 2.00 17.50 2.00 percent [+]
Interbank Rate 2.42 2.46 18.18 2.42 percent [+]
Money Supply M1 305339.00 335123.00 335123.00 8246.00 AUD Million [+]
Money Supply M3 1783970.00 1776940.00 1783970.00 10191.00 AUD Million [+]
Central Bank Balance Sheet 160124.00 157134.00 166360.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 67282.00 73184.00 84610.00 1126.00 AUD Million [+]
Loans to Private Sector 794148.00 792628.00 794148.00 20212.00 AUD Million [+]
Banks Balance Sheet 3691.63 3576.29 3691.63 322.96 AUD Billion [+]
Money Supply M0 91.70 90.60 92.16 4.09 AUD Billion [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Aug/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Aug/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Jul/15 11.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]