INTEREST RATE UPDATE - Aspire Planning Group

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INTEREST RATE UPDATE

The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on February 7th, as expected. While highlighting economic growth over the next couple of years will be around 3 percent, mainly boosted by further increases in resource exports, policymakers said inflation is expected to remain low for some time. Interest Rate in Australia averaged 4.78 percent from 1990 until 2017, reaching an all time high of 17.50 percent in January of 1990 and a record low of 1.50 percent in August of 2016.

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