Australia Interest Rate 1990-2017 | Data | Chart | Calendar | Forecast

The Reserve Bank of Australia held the cash rate unchanged at a record low of 1.5 percent at its December 2017 meeting, as widely expected. While saying the Australian economy grew at around its trend rate over the year to the September quarter and is expected to average around 3 percent over the next few years, policymakers judged the outlook for household consumption is a continuing source of uncertainty. Interest Rate in Australia averaged 4.64 percent from 1990 until 2017, reaching an all time high of 17.50 percent in January of 1990 and a record low of 1.50 percent in August of 2016.

Australia Interest Rate
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Australia Leaves Monetary Policy Unchanged


The Reserve Bank of Australia held the cash rate unchanged at a record low of 1.5 percent at its December 2017 meeting, as widely expected. While saying the Australian economy grew at around its trend rate over the year to the September quarter and is expected to average around 3 percent over the next few years, policymakers judged the outlook for household consumption is a continuing source of uncertainty.

Excerpt from the statement by the governor, Philip Lowe:

Recent data suggest that in Australia business conditions are positive and capacity utilisation has increased. The outlook for non-mining business investment has improved further, with the forward-looking indicators being more positive than they have been for some time. Increased public infrastructure investment is also supporting the economy. One continuing source of uncertainty is the outlook for household consumption. Household incomes are growing slowly and debt levels are high.

Employment growth has been strong over 2017 and the unemployment rate has declined. Employment has been rising in all states and has been accompanied by a rise in labour force participation. The various forward-looking indicators continue to point to solid growth in employment over the period ahead. There are reports that some employers are finding it more difficult to hire workers with the necessary skills. However, wage growth remains low. This is likely to continue for a while yet, although the stronger conditions in the labour market should see some lift in wage growth over time.

Inflation remains low, with both CPI and underlying inflation running a little below 2 per cent. The Bank's central forecast remains for inflation to pick up gradually as the economy strengthens.

The Australian dollar remains within the range that it has been in over the past two years. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.

Growth in housing debt has been outpacing the slow growth in household income for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Credit standards have been tightened in a way that has reduced the risk profile of borrowers. Nationwide measures of housing prices are little changed over the past six months, with conditions having eased in Sydney. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases remain low in most cities.

The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

RBA l Rida Husna |
12/5/2017 3:59:24 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-10-03 03:30 AM RBA Interest Rate Decision 1.5% 1.5% 1.50% 1.5%
2017-11-07 03:30 AM RBA Interest Rate Decision 1.5% 1.5% 1.50% 1.5%
2017-12-05 03:30 AM RBA Interest Rate Decision 1.50% 1.5% 1.50% 1.5%
2017-12-19 12:30 AM RBA Meeting Minutes
2018-02-06 03:30 AM RBA Interest Rate Decision 1.50%
2018-02-09 12:30 AM RBA Monetary Policy Statement


Australia Money Last Previous Highest Lowest Unit
Interest Rate 1.50 1.50 17.50 1.50 percent [+]
Interbank Rate 2.06 1.99 18.18 1.90 percent [+]
Money Supply M0 105.92 106.17 106.17 4.09 AUD Billion [+]
Money Supply M1 357.32 353.85 357.66 8.25 AUD Billion [+]
Money Supply M3 2058.91 2045.11 2058.91 10.19 AUD Billion [+]
Banks Balance Sheet 4122.84 4187.32 4187.32 322.96 AUD Billion [+]
Central Bank Balance Sheet 184396.00 189750.00 200326.00 30418.00 AUD Million [+]
Foreign Exchange Reserves 85834.00 78112.00 88457.00 1126.00 AUD Million [+]
Loans to Private Sector 904.73 900.66 904.73 20.21 AUD Billion [+]
Deposit Interest Rate 2.10 2.30 15.69 2.10 percent [+]
Private Debt to GDP 223.38 220.87 223.38 125.69 percent [+]


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. 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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 17.50 1.50 1990 - 2017 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Dec/17
Russia 7.75 Dec/17
Mexico 7.25 Dec/17
Brazil 7.00 Dec/17
India 6.00 Dec/17
China 4.35 Nov/17
Indonesia 4.25 Dec/17
Australia 1.50 Dec/17
South Korea 1.50 Nov/17
United States 1.50 Dec/17
Canada 1.00 Dec/17
United Kingdom 0.50 Dec/17
Euro Area 0.00 Dec/17
France 0.00 Dec/17
Germany 0.00 Dec/17
Italy 0.00 Dec/17
Netherlands 0.00 Dec/17
Spain 0.00 Dec/17
Japan -0.10 Oct/17
Switzerland -0.75 Dec/17