Interest Rate 2024 Australia Forecast

Interest Rate 2024 Australia Forecast. Interest rate in australia averaged 3.86 percent from 1990 until 2024, reaching an all time high of 17.50 percent in january of 1990 and a record low of 0.10 percent in november of 2020. At its august 2024 meeting, the reserve bank board decided to hold the cash rate.

Analysts mentioned in this article forecast the reserve bank of australia to continue hiking its cash rate in 2023. From the us to europe to australia, banks are bracing for a drop in their biggest source of revenue as interest rates start to fall.