RBA Rate Changes
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November 2020
November 3, 2020 The Reserve Bank of Australia (RBA) Board rolled out a new package of support measures. These involve cutting the targets for the cash rate and 3-year Commonwealth bond yields as well as the Term Funding Facility rate by 15 basis points to 0.10%, a reduction in the interest rate on Exchange Settlement balances to zero; and purchases of A$100B of government bonds of around 5-10 years maturity over the next six months.
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March 2020 – COVID-19
March 19, 2020 The Reserve Bank of Australia (RBA) Board announced a range of policies today in response to the COVID-19 pandemic, including:
• cutting the cash rate target by 0.25 basis points to 0.25%, and committing to keep it at that level until progress is being made towards full employment and the Board is confident that inflation is sustainably within the target band,
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• introducing a target for 3-year government bond yields of around 0.25% to be achieved by purchasing Government bonds (including semis) in the in the secondary market (yield curve control),
• establishing a new term funding facility with particular support for credit to small and medium-sized businesses (up to AUD 90B). -
March 2020
March 3, 2020 The RBA reduces the cash rate as expected by the market participants.
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October 2019
October 1, 2019 The Reserve Bank of Australia (RBA) Board cut the cash rate by 25 basis points to 0.75% at its monetary policy meeting today, taking its total cuts to 400 basis points since the first cut of the cycle in November 2011.
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July 2019
July 2, 2019 The Reserve Bank of Australia (RBA) Board cut the cash rate by 25 basis points to 1.00% at its monetary policy meeting today, taking its total cuts to 375 basis points since the first cut of the cycle in November 2011.
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June 2019
June 4, 2019 The Reserve Bank of Australia (RBA) Board cut the cash rate by 25 basis points to 1.25% at its monetary policy meeting today, taking its total cuts to 350 basis points since the first cut of the cycle in November 2011.
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