";s:4:"text";s:2744:" RBA Interest Rate decision. Interest Rate in Australia averaged 4.23 percent from 1990 until 2020, reaching an all time high of 17.50 percent in January of 1990 and a record low of 0.25 percent in March of 2020. The Reserve Bank of Australia (RBA) has kept the official interest rate on hold at 0.25%. Reserve Bank of Australia The RBA Board voted to keep the interest rate on hold after it was cut from 0.5 per cent to 0.25 per cent during an unscheduled meeting in mid … Not so happy days with less money likely to be spent around the town. Borrowers on variable rates linked to the RBA cash rate will rejoice when their particular financial institution eventually agrees to pass on the interest rate cut. The inflation calculator uses data on consumer and retail prices to calculate changes in the cost of purchasing a representative basket of goods and services. The RBA has now cut interest rates four times within the past year Coronavirus could wipe anywhere from 0.3 to 7.9 per cent from Australian GDP depending on the outbreak's severity, analysts warn Historical Forecasts. RBA meeting dates 2020 (Schedule ) RBA Meeting Calendar 2020. Statistical tables of the Bank's historical forecasts for key economic indicators, along with outcomes and forecast errors. This week, the RBA minutes affirmed that the central bank is ready to cut interest rate again. The Australian Dollar was well prepared for the RBA's May rate call which leaves the Official Cash Rate at 0.25%. As the Australian economy hasn’t been firing on all cylinders of late the RBA cut interest rates three times in 2019 with the aim of revving up consumer spending. At its scheduled April monetary policy meeting held Tuesday, the Reserve Bank of Australia (RBA) maintains its official cash rate (OCR) at a record low of 0.25%, as widely expected.
The Reserve Bank of Australia has just announced it will cut interest rates by 25 basis points, to a record low of 1.25 per cent, meaning those with variable home loans could feel some relief.. That is, if the banks choose to pass it on.