Rate Cut 2024 Australia. Australia’s cash rate, at 4.35 per cent, is still lower than the lending rates in the us, new zealand and britain, while canada’s most recent cut took its interest rates. It aims for between 2 and 3 per cent per year and prefers the middle of that range.
The reserve bank expects inflation to return to its target band by christmas, but markets are betting on rate cuts as early as november. At its meeting today, the board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on exchange settlement balances unchanged at 4.25 per cent.
