Australia Interest Rates: RBA Reserve Bank of Australia

Australia Interest Rates: RBA Reserve Bank of Australia

In this January post entitled Australia Interest Rates: RBA Reserve Bank of Australia, we start the blog rolling by sharing Australia interest rates news of 2009.

These Australia interest rates are the Cash Rate Targets of Reserve Bank of Australia (RBA). How are the interest rate decisions made by RBA?

Interest Rate Decisions

Monetary policy decisions are expressed in terms of a target for the cash rate, which is the overnight money market interest rate. A media release is issued at 2.30 pm after each Reserve Bank Board meeting, with the Board's decision taking effect the following day.

Here are the Australia interest rates set by the Reserve Bank of Australia in the past one year.

Cash Rate Target

Effective Date : Change in cash rate Percentage points | New cash rate target Per cent
2 Dec 2009 = +0.25 / 3.75
4 Nov 2009 = +0.25 / 3.50
7 Oct 2009 = +0.25 / 3.25
8 Apr 2009 = -0.25 / 3.00
4 Feb 2009 = -1.00 / 3.25

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Australia Bank Rates