The Reserve Bank of Australia (RBA) kept its cash rate unchanged at 4.35% during its November meeting, retaining borrowing costs for the eighth consecutive gathering and matching market estimates. The central bank noted that while headline inflation has significantly declined and is expected to remain lower for some time, underlying inflation remains too high. This underscores the need to stay vigilant to upside risks to inflation and the board is not ruling anything in or out. The board added that monetary policy will need to stay sufficiently restrictive until it is confident that inflation is moving sustainably toward the target range. Regarding household consumption, the RBA noted signs of increased spending during Q3. However, there is a risk that any pick-up may be slower than expected, leading to continued subdued output growth and a sharper deterioration in the labor market. The committee also left unchanged the interest rate on Exchange Settlement balances 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 3.86 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 November 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.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-08-06 04:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-09-24 04:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-11-05 03:30 AM RBA Interest Rate Decision 4.35% 4.35% 4.35% 4.35%
2024-12-10 03:30 AM RBA Interest Rate Decision 4.35%
2024-12-11 01:30 AM RBA Chart Pack
2025-02-18 03:30 AM RBA Interest Rate Decision


Related Last Previous Unit Reference
Central Bank Balance Sheet 431341.00 426820.00 AUD Million Nov 2024
Deposit Interest Rate 3.20 3.20 percent Oct 2024
Foreign Exchange Reserves 98976.00 93966.00 AUD Million Oct 2024
Interbank Rate 4.34 4.34 percent Oct 2024
RBA Interest Rate 4.35 4.35 percent Nov 2024
Private Sector Credit YoY 5.80 5.70 percent Sep 2024
Loans to Private Sector 1204.78 1190.26 AUD Billion Sep 2024
Money Supply M0 331.03 340.81 AUD Billion Sep 2024
Money Supply M1 1709.94 1695.98 AUD Billion Sep 2024
Money Supply M3 3075.43 3065.49 AUD Billion Sep 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
Australia to Retain Restrictive Monetary Policy: RBA Minutes
Monetary policy in Australia will be sufficiently restrictive until the central bank is confident that inflation is moving sustainably towards the target, minutes of the RBA's November policy meeting showed. It added the board remains vigilant to upside risks to inflation, noting that headline inflation is forecast to stay within the intended goal of 2–3% until Q3 2025, when the scheduled end to energy rebates would see it pick up. Meantime, the outlook for underlying inflation has little changed since the August meeting. Members agreed future rate policy will depend on data and the evolving risk assessment but rate adjustments can be made if the board views the policy stance as not tight enough. Globally, the RBA sees risks from a change in US policy after the presidential race and uncertainties around how other countries respond. On the GDP front, growth has been subdued in Q2 but looked to have picked up since then due to a sustained rise in household consumption from H2 of 2024.
2024-11-19
Australia Holds Cash Rate As Expected
The Reserve Bank of Australia (RBA) kept its cash rate unchanged at 4.35% during its November meeting, retaining borrowing costs for the eighth consecutive gathering and matching market estimates. The central bank noted that while headline inflation has significantly declined and is expected to remain lower for some time, underlying inflation remains too high. This underscores the need to stay vigilant to upside risks to inflation and the board is not ruling anything in or out. The board added that monetary policy will need to stay sufficiently restrictive until it is confident that inflation is moving sustainably toward the target range. Regarding household consumption, the RBA noted signs of increased spending during Q3. However, there is a risk that any pick-up may be slower than expected, leading to continued subdued output growth and a sharper deterioration in the labor market. The committee also left unchanged the interest rate on Exchange Settlement balances at 4.25%.
2024-11-05
RBA Stays Watchful on Inflation Risks
Underlying inflation in Australia remained high, according to the Reserve Bank of Australia's September meeting minutes. However, it noted that the headline CPI for August would come in below 3% due to the impact of electricity subsidies. The central bank said monetary policy would need to remain sufficiently restrictive until members were confident that inflation was moving toward the target range of 2-3%. Regarding GDP, output growth was weak, with household consumption falling short of expectations, and the outlook for exports shifting to the downside. In the labor market, conditions were tighter than consistent with full employment but easing as expected. Members also discussed global monetary easing but agreed that domestic cash rates need not move in lock-step with other economies, given stronger inflation and labor market conditions at home and a less restrictive policy stance.
2024-10-08