What is the Reserve Bank of Australia cash rate target?

The Reserve Bank of Australia's (RBA) cash rate target in-part determines interest rates on financial products. The Reserve Bank of Australia's (RBA) cash rate target is arguably the most important base interest rate in the nation, and in-part determines the interest rate on products such as home loans, savings, accounts, term deposits, and more.

How are interest rates determined in Australia?

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.

What is Australia short term interest rate?

In the latest reports, Australia Short Term Interest Rate: Month End: Bank Acceptance Bills Rates: 90 days was reported at 4.42 % pa in Oct 2024. The cash rate (Policy Rate: Month End: Cash Target Rate) was set at 4.35 % pa in Oct 2024. Australia Exchange Rate against USD averaged 1.49 (USD/AUD) in Jun 2023.