The Reserve Bank of Australia left its cash rate unchanged at a record low of 0.1% during its December meeting, as widely expected, after slashing it from 0.25% in November. Policymakers reaffirmed their commitment to do more to support jobs, income, and businesses in Australia. The board said it was not expecting to increase the cash rate for at least three years, adding that it will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The board mentioned it will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target. The Committee also said that the economic recovery is under way and recent data have generally been better than expected. source: Reserve Bank of Australia
Interest Rate in Australia averaged 4.13 percent from 1990 until 2020, 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 December of 2020.
Interest Rate in Australia is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Australia to stand at 0.10 in 12 months time. In the long-term, the Australia Interest Rate is projected to trend around 0.10 percent in 2021 and 0.25 percent in 2022, according to our econometric models.