Reserve Bank of Australia (RBA) Interest Rate Decision
The Reserve Bank of Australia (RBA) is the central bank of Australia and is responsible for setting the official cash rate, which is the benchmark interest rate for the Australian economy. The RBA sets the cash rate at its monthly board meetings, and the decision is announced to the public. The cash rate decision is one of the most important economic indicators in Australia, as it affects the cost of borrowing and the availability of credit.
History of the RBA Interest Rate Decision
The Reserve Bank of Australia was established in 1960 and is the central bank of Australia. The RBA is responsible for setting the official cash rate, which is the benchmark interest rate for the Australian economy. The RBA sets the cash rate at its monthly board meetings, and the decision is announced to the public. The cash rate decision is one of the most important economic indicators in Australia, as it affects the cost of borrowing and the availability of credit.
The RBA has been setting the cash rate since the early 1990s, and the decision is based on a range of economic indicators, including inflation, employment, and economic growth. The RBA’s decision is closely watched by the financial markets, as it can have a significant impact on the Australian economy. The RBA’s decision is also closely watched by the government, as it can affect the government’s fiscal policy.
Table of Comparisons
| Year | Cash Rate |
|---|---|
| 2020 | 0.25% |
| 2019 | 1.50% |
| 2018 | 1.50% |
| 2017 | 1.50% |
| 2016 | 1.75% |
Summary
The Reserve Bank of Australia (RBA) is the central bank of Australia and is responsible for setting the official cash rate, which is the benchmark interest rate for the Australian economy. The RBA sets the cash rate at its monthly board meetings, and the decision is announced to the public. The cash rate decision is one of the most important economic indicators in Australia, as it affects the cost of borrowing and the availability of credit. For more information on the RBA interest rate decision, visit the RBA website or the Australian Treasury website.
See Also
- Cash Rate
- Inflation
- Employment
- Economic Growth
- Monetary Policy
- Fiscal Policy
- Interest Rates
- Credit Availability
- Central Bank
- Australian Economy
