Key data points
Last release
—
Observation period
Nov 5, 2024
Next release
—
Forecast
—
Highest
17.50 % on Jan 22, 1990
Lowest
0.10 % on Apr 5, 2022
About 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.
Related indicators
Frequently Asked Questions
Australia interest rate is 4.35% at the moment.
Last month Australia interest rate was 4.35%, and the month before that it amounted to 4.35%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.