Supply Factors: Official Cash Rate
You should be very wary of any supply side link between a change in the cash rate and the Australian economy. Interest rates do represent a significant production cost, and as a result there will be a supply side impact. However, monetary policy is implemented as a demand management policy, and as a result it is reasonable to assume that the impact on aggregate demand will be greater than the impact on aggregate supply. This is significant - failing to be aware of this point will lead you to incorrect conclusions.
Up to date cash rate statistics are available from the Reserve Bank's website.
| Year |
Cash Rate (%) |
| 3 Dec 2008 |
4.25 |
| 5 Nov 2008 |
5.25 |
| 8 Oct 2006 |
6.00 |
| 3 Sep 2008 |
7.00 |
| 5 Mar 2008 |
7.25 |
| 6 Feb 2008 |
7.00 |
| 7 Nov 2007 |
6.75 |
| 8 Aug 2007 |
6.50 |
| 8 Nov 2006 |
6.25 |
| 2 Aug 2006 |
6.00 |
| 3 May 2006 |
5.75 |
| 2 Mar 2005 |
5.50 |
| 3 Dec 2003 |
5.25 |
| 5 Nov 2003 |
5.00 |
| 5 June 2002 |
4.75 |
| 8 May 2002 |
4.50 |
| 5 Dec 2001 |
4.25 |
| 3 Oct 2001 |
4.50 |
| 5 Sep 2001 |
4.75 |
| 4 Apr 2001 |
5.00 |
| 7 Mar 2001 |
5.50 |
| 7 Feb 2001 |
5.75 |
| 2 Aug 2000 |
6.25 |
| 3 May 2000 |
6.00 |
| 5 Apr 2000 |
5.75 | |
 |
 | Current Page: Official Cash Rate |  |
Unit 1
Statistics