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 5.08 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.

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Australia Interest Rate
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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 Sunday, July 5, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-16 02:30 AM
2015-06-18 02:30 AM
2015-06-30 09:40 AM
2015-07-07 05:30 AM 2.0% 2% 2%
2015-07-21 02:30 AM
2015-08-04 05:30 AM 2%


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.

Excerpt from the statement by Glenn Stevens, Governor:

In Australia, the available information suggests the economy has continued to grow, but at a rate somewhat below its longer-term average. Household spending has improved, including a large rise in dwelling construction, and exports are rising. But a key drag on private demand is weakness in business capital expenditure in both the mining and non-mining sectors and this is likely to persist over the coming year. Public spending is also scheduled to be subdued. Overall, the economy is likely to be operating with a degree of spare capacity for some time yet. With very slow growth in labour costs, inflation is 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 stronger lending to businesses and 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 has declined noticeably against a rising US dollar over the past year, though less so against a basket of currencies. Further depreciation seems both likely and necessary, particularly given the significant declines in key commodity prices.

Having eased monetary policy last month, the Board today judged that leaving the cash rate unchanged was appropriate at this meeting. Information on economic and financial conditions to be received over the period ahead will inform the Board's 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
6/2/2015 7:04:59 AM


Recent Releases

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 Holds Cash Rate at Record Low
The Reserve Bank of Australia left the cash rate unchanged at a record low 2.25 percent on March 3rd, following last month's cut. Yet, policymakers signaled further easing may occur in the coming meetings.
Published on 2015-03-03

Australia Cuts Cash Rate to Record Low of 2.25%
The Reserve Bank of Australia cut the cash rate by 25 basis points to a fresh record low of 2.25 percent. Policymakers said further reduction in the rate was appropriate as the economy needs more support to bring growth to a sustainable level and inflation consistent with the target.
Published on 2015-02-03


Australia Money Last Previous Highest Lowest Unit
Interest Rate 2.00 2.00 17.50 2.00 percent [+]
Interbank Rate 2.46 2.45 18.18 2.45 percent [+]
Money Supply M1 330227.00 327227.00 330227.00 8246.00 AUD Million [+]
Money Supply M3 1779634.00 1767700.00 1779634.00 10191.00 AUD Million [+]
Central Bank Balance Sheet 165231.00 158424.00 166360.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 73184.00 67786.00 84610.00 1126.00 AUD Million [+]
Loans to Private Sector 788506.00 788332.00 788506.00 20212.00 AUD Million [+]
Banks Balance Sheet 3691.63 3576.29 3691.63 322.96 AUD Billion [+]
Money Supply M0 90.70 90.57 92.16 4.09 AUD Billion [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jun/15 2.00 17.50 2.00 percent [+]
Brazil 13.75 Jun/15 13.25 45.00 7.25 percent [+]
Canada 0.75 May/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jun/15 0.05 4.75 0.05 percent [+]
France 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jun/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jun/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Jun/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jun/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jun/15 1.75 5.25 1.50 percent [+]
Spain 0.05 Jun/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jun/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jun/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jun/15 0.25 20.00 0.25 percent [+]