The Reserve Bank of Australia maintained its cash rate at 4.35% during its March meeting, as widely expected. Tuesday's move came amid signs that economic growth has slowed following a total of 425bps rate hike over the past two years. Meanwhile, inflation continued to ease amid moderation in goods prices. The cost of services stayed elevated, with a more gradual pace of easing. The board said its highest priority was returning inflation to target within a reasonable timeframe, adding that it needed to be sure that prices are moving towards the 2–3% range in 2025 and the midpoint in 2026. The central viewed that the interest rate path remained uncertain as it did not rule anything in or out, and relied upon the data and the assessment of risks. The committee reiterated that it will closely monitor the global economy, trends in domestic demand, and the outlook for inflation and the labor market. The board also kept the interest rate on Exchange Settlement balances unchanged at 4.25%. source: Reserve Bank of Australia
The benchmark interest rate in Australia was last recorded at 4.35 percent. Interest Rate in Australia averaged 3.85 percent from 1990 until 2024, reaching an all time high of 17.50 percent in January of 1990 and a record low of 0.10 percent in November of 2020. This page provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
The benchmark interest rate in Australia was last recorded at 4.35 percent. Interest Rate in Australia is expected to be 4.35 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Interest Rate is projected to trend around 3.10 percent in 2025 and 2.85 percent in 2026, according to our econometric models.