The Reserve Bank of Australia (RBA) retained its cash rate at 4.35% during its final meeting of 2024, keeping borrowing costs unchanged for the ninth straight gathering, in line with market forecasts. The central bank stated that while headline inflation has eased substantially and will remain lower for some time, underlying inflation stays too high before reaching the midpoint of 2 to 3% in 2026. The board said it gained some confidence that inflation is moving sustainably towards the target. Meanwhile, other recent data on activity have been mixed but remain consistent with forecasts. On household consumption, any pick-up may be slower than expected, resulting in continued subdued output growth and a sharper deterioration in the labor market. The RBA added that it will continue to rely upon data and the evolving assessment of risks, including geopolitical uncertainties, to guide its decisions. The committee also maintained 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 January of 2025.

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
2024-09-24 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% 4.35% 4.35% 4.35%
2025-01-30 12:30 AM RBA Bulletin
2025-02-18 03:30 AM RBA Interest Rate Decision
2025-02-19 12:30 AM RBA Chart Pack


Related Last Previous Unit Reference
Central Bank Balance Sheet 415715.00 418792.00 AUD Million Jan 2025
Deposit Interest Rate 3.20 3.20 percent Dec 2024
Foreign Exchange Reserves 102343.00 98406.00 AUD Million Dec 2024
Interbank Rate 4.34 4.34 percent Dec 2024
RBA Interest Rate 4.35 4.35 percent Dec 2024
Private Sector Credit YoY 6.20 6.10 percent Nov 2024
Loans to Private Sector 1224.83 1218.21 AUD Billion Nov 2024
Money Supply M0 346.62 342.95 AUD Billion Nov 2024
Money Supply M1 1741.53 1736.04 AUD Billion Nov 2024
Money Supply M3 3110.73 3108.14 AUD Billion Nov 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
Inflation Risks Ease Amid Lingering Uncertainties: RBA
Inflation risks in Australia have eased, but headwinds persist, particularly regarding global economic conditions and elevated services inflation, minutes from the Reserve Bank's December policy meeting showed. It added that monetary policy would need to remain sufficiently restrictive until members are confident that inflation is sustainably returning to the 2–3% target. Underlying inflation remains high at around 3-1/2%, well above the 2-1/2% midpoint of the goal. The board stressed a data-driven approach to future rate decisions, reaffirming that returning inflation to target is the top priority. On the domestic front, economic output growth was weak in Q3 2024. While recent data indicated a pick-up in consumption in October and November, it is too early to determine whether this reflects a sustained recovery or temporary pre-holiday spending. Members emphasized that trends in consumer spending will be pivotal for GDP growth and labor market developments moving forward.
2024-12-24
Australia Holds Cash Rate, Adopts a Mildly Dovish Stance
The Reserve Bank of Australia (RBA) retained its cash rate at 4.35% during its final meeting of 2024, keeping borrowing costs unchanged for the ninth straight gathering, in line with market forecasts. The central bank stated that while headline inflation has eased substantially and will remain lower for some time, underlying inflation stays too high before reaching the midpoint of 2 to 3% in 2026. The board said it gained some confidence that inflation is moving sustainably towards the target. Meanwhile, other recent data on activity have been mixed but remain consistent with forecasts. On household consumption, any pick-up may be slower than expected, resulting in continued subdued output growth and a sharper deterioration in the labor market. The RBA added that it will continue to rely upon data and the evolving assessment of risks, including geopolitical uncertainties, to guide its decisions. The committee also maintained the interest rate on Exchange Settlement balances at 4.25%.
2024-12-10
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