Interest rates on hold at record-low 0.75 percent

5 November 2019

The Reserve Bank has held interest rates at the historic low of 0.75 per cent.

RBA governor Philip Lowe noted in his post-decision statement the outlook for the Australian economy is little changed from three months ago. The RBA is forecasting GDP growth of around 2.25 per cent this year, gradually picking up to 3 per cent in 2021.

The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices in some markets and a brighter outlook for the resources sector should all support growth," Dr Lowe said.

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