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 June 7th, as expected. While saying that domestic demand, as well as exports, have been expanding at a pace at or above trend, policymakers judged that holding the stance of policy unchanged this time would be consistent with sustainable growth in the economy and inflation returning to target over time. Interest Rate in Australia averaged 4.90 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 June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-05 04:30 AM RBA Interest Rate Decision 2% 2% 2% 2%
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%
2016-07-21 01:30 AM RBA Meeting Minutes
2016-08-02 04:30 AM RBA Interest Rate Decision 1.75%

Australia Keeps Cash Rate Steady at Record Low of 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 June 7th, as expected. While saying that domestic demand, as well as exports, have been expanding at a pace at or above trend, policymakers judged that holding the stance of policy unchanged this time would be consistent with sustainable growth in the economy and inflation returning to target over time.

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 continued expansion of 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 overall is helping the traded sector. Over the past year, growth in credit to businesses has picked up, even as that to households has moderated a little. 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 begun to rise again recently. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities.

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




RBA l Rida Husna | rida@tradingeconomics.com
6/7/2016 6:37:34 AM

Australia Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.75 17.50 1.75 percent [+]
Interbank Rate 2.17 2.27 18.18 2.17 percent [+]
Money Supply M0 97.77 98.79 100.60 4.09 AUD Billion [+]
Money Supply M1 326.46 322.77 326.46 8.25 AUD Billion [+]
Money Supply M3 1879.02 1872.31 1879.02 10.19 AUD Billion [+]
Banks Balance Sheet 3983.57 3906.01 3983.57 322.96 AUD Billion [+]
Central Bank Balance Sheet 166393.00 166206.00 190286.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 80111.00 65719.00 84610.00 1126.00 AUD Million [+]
Loans to Private Sector 852.25 845.99 852.25 20.21 AUD Billion [+]
Deposit Interest Rate 2.30 2.90 15.69 2.30 percent [+]




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