RBA tipped to keep rates on hold in May
Experts believe the RBA will leave interest rates unchanged at its May meeting
Lenders' interest rates are published 25 business days after the end of each month. The cash rate target graph and table below display interactive information, including historical values, you can view the data according to the month, quarter or year.
RBA raises rates for fourth straight month
The Reserve Bank of Australia has lifted its key interest rate for a fourth straight month, hoisting the cash rate target by 25 basis points to 0.35 per cent.
The move was widely expected by economists, who believe the RBA is trying to get ahead of inflation, which is currently running at a 5.1 per cent annual rate.
The RBA's decision comes as the Australian economy continues to recover from the COVID-19 pandemic. The unemployment rate has fallen to 4 per cent, and the economy is growing at an annual rate of 3.3 per cent.
However, the RBA is concerned that inflation is likely to remain elevated for some time. The bank's board said in a statement that it "expects inflation to remain high for a while yet" and that it "will continue to monitor the situation closely."
Comments