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RBA Official Cash Rate, Australian central bank’s interest rate
Charts - historic RBA interest rates
Graph Australian interest rate RBA - interest rates last year |
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Graph Australian interest rate RBA - long-term graph |
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Reserve Bank of Australia
The Reserve Bank of Australia (RBA) is the Australian central bank. The RBA’s most important task is to set the monetary policy for Australia. The aim of this policy is to achieve low and stable inflation in the medium term. Other important responsibilities of the RBA are:
- to maintain financial stability and the stability of the Australian dollar;
- to maintain full employment;
- to contribute to the economic development and wealth of the inhabitants of Australia;
- to act as banker for the Australian government;
- to issue Australian currency;
- to manage Australia’s foreign currency reserves.
Cash rate target
When reference is made to the Australian interest rate this often refers to the cash rate target, also called the official cash rate (OCR) or cash rate. This is the Australian base rate. Banks pay this interest rate when they take out a loan with a maturity of 1 day from another bank. By buying or selling bonds and other securities issued by the government the RBA can influence the money supply and thus the cash rate target. A rise or fall in the cash rate often also leads to a change in the interest rates for mortgages, loans and savings.
This page shows the current and historic values of the RBA’s official cash rate (OCR).
For a summary of the current interest rates of a large number of central banks please click here.
Tables - current and historic Australian central bank interest rates
RBA latest interest rate changes
| march 07 2023 |
3.600 % |
| february 07 2023 |
3.350 % |
| december 06 2022 |
3.100 % |
| november 01 2022 |
2.850 % |
| october 04 2022 |
2.600 % |
| september 06 2022 |
2.350 % |
| august 02 2022 |
1.850 % |
| july 06 2022 |
1.350 % |
| june 07 2022 |
0.850 % |
| may 03 2022 |
0.350 % |
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Summary of other central banks’ interest rates
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