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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-05 03:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-02-06 03:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-03-19 03:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-05-07 04:30 AM RBA Interest Rate Decision 4.35% 4.35%
2024-06-18 04:30 AM RBA Interest Rate Decision
2024-07-18 01:30 AM RBA Bulletin


Related Last Previous Unit Reference
Central Bank Balance Sheet 529999.00 531303.00 AUD Million Apr 2024
Deposit Interest Rate 3.50 3.50 percent Mar 2024
Foreign Exchange Reserves 89692.00 90527.00 AUD Million Mar 2024
Interbank Rate 4.32 4.32 percent Mar 2024
RBA Interest Rate 4.35 4.35 percent Mar 2024
Private Sector Credit YoY 5.00 4.90 percent Feb 2024
Loans to Private Sector 1135.32 1127.33 AUD Billion Feb 2024
Money Supply M0 460.05 465.22 AUD Billion Feb 2024
Money Supply M1 1663.53 1649.71 AUD Billion Feb 2024
Money Supply M3 2996.12 2975.34 AUD Billion Feb 2024

Australia Interest Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
4.35 4.35 17.50 0.10 1990 - 2024 percent Daily

News Stream
RBA Not Ruling in or out Interest Rate Moves: March Minutes
Leaving the cash rate unchanged at 4.35% in Australia was the best way to achieve the central bank’s strategy of supporting a gradual return of inflation to the 2–3% target and the labour market to full employment, minutes of the Reserve Bank's March meeting showed. Members also viewed that returning inflation to the desired level remains the board’s highest priority. At the same time, it was important to preserve as many of the gains in the labour market as possible. The minutes revealed that recent economic data indicated the economy was tracking broadly as expected. While there were significant uncertainties, the risks seemed broadly balanced, it added. Members agreed that it was therefore not possible to either rule in or out future changes in the cash rate target. They agreed to reiterate their resolve to do what is necessary to return inflation to target.
2024-04-02
Australia Holds Cash Rate at 4.35%
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%.
2024-03-19
Australia Holds Cash Rate, Signals More Hike
The Reserve Bank of Australia kept its cash rates unchanged at 4.35% during its first meeting in 2024, as widely expected. Tuesday's move came after the central bank delivered a total of 425bps rate hike over the past two years to curb a post-pandemic spike in inflation. The board said cost pressure in the country continued to ease but inflation remained high as prices of services were not falling quickly enough. While warning that further monetary tightening can not be ruled out, policymakers added that the path of interest rates will depend upon the data and the evolving assessment of risks. At the same time, the central bank needs to be confident that inflation will return to the target range of 2 to 3% in 2025, and the midpoint in 2026. 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 maintained the interest rate on Exchange Settlement balances at 4.25%.
2024-02-06