The Reserve Bank of Australia (RBA) is Australia's central bank, which was
continued in existence under, and derives its functions and powers from the
Reserve Bank Act 1959. Its duty is to contribute to the stability of
the currency, full employment, and the economic prosperity and welfare of the
Australian people. It does this by setting the cash rate to meet an agreed
medium-term inflation target, working to maintain a strong financial system and
efficient payments system, and issuing the nation's banknotes. The RBA provides
certain banking services as required to the Australian Government and its
agencies, and to a number of overseas central banks and official institutions.
Additionally, it manages Australia's gold and foreign exchange reserves
Banking in Australia http://openoffshorebankaccountfornonresident.blogspot.com/2013/08/banking-in-australia.html
Moving to Australia http://openoffshorebankaccountfornonresident.blogspot.com/2013/08/moving-to-australia-checklist.HTML
Banking in Australia http://openoffshorebankaccountfornonresident.blogspot.com/2013/08/banking-in-australia.html
Moving to Australia http://openoffshorebankaccountfornonresident.blogspot.com/2013/08/moving-to-australia-checklist.HTML
| Effective Date | Change in cash
rate Percentage points |
New cash rate target Per cent | |
|---|---|---|---|
| 8 May 2013 | -0.25 | 2.75 | |
| 3 Apr 2013 | 0.00 | 3.00 | |
| 6 Mar 2013 | 0.00 | 3.00 | |
| 6 Feb 2013 | 0.00 | 3.00 | |
| 5 Dec 2012 | -0.25 | 3.00 | |
| 7 Nov 2012 | 0.00 | 3.25 | |
| 3 Oct 2012 | -0.25 | 3.25 | |
| 5 Sep 2012 | 0.00 | 3.50 | |
| 8 Aug 2012 | 0.00 | 3.50 | |
| 4 Jul 2012 | 0.00 | 3.50 | |
| 6 Jun 2012 | -0.25 | 3.50 | |
| 2 May 2012 | -0.50 | 3.75 | |
| 4 Apr 2012 | 0.00 | 4.25 | |
| 7 Mar 2012 | 0.00 | 4.25 | |
| 8 Feb 2012 | 0.00 | 4.25 | |
| 7 Dec 2011 | -0.25 | 4.25 | |
| 2 Nov 2011 | -0.25 | 4.50 | |
| 5 Oct 2011 | 0.00 | 4.75 | |
| 7 Sep 2011 | 0.00 | 4.75 | |
| 3 Aug 2011 | 0.00 | 4.75 | |
| 6 Jul 2011 | 0.00 | 4.75 | |
| 8 Jun 2011 | 0.00 | 4.75 | |
| 4 May 2011 | 0.00 | 4.75 | |
| 6 Apr 2011 | 0.00 | 4.75 | |
| 2 Mar 2011 | 0.00 | 4.75 | |
| 2 Feb 2011 | 0.00 | 4.75 | |
| 8 Dec 2010 | 0.00 | 4.75 | |
| 3 Nov 2010 | +0.25 | 4.75 | |
| 6 Oct 2010 | 0.00 | 4.50 | |
| 8 Sep 2010 | 0.00 | 4.50 | |
| 4 Aug 2010 | 0.00 | 4.50 | |
| 7 Jul 2010 | 0.00 | 4.50 | |
| 2 Jun 2010 | 0.00 | 4.50 | |
| 5 May 2010 | +0.25 | 4.50 | |
| 7 Apr 2010 | +0.25 | 4.25 | |
| 3 Mar 2010 | +0.25 | 4.00 | |
| 3 Feb 2010 | 0.00 | 3.75 | |
| 2 Dec 2009 | +0.25 | 3.75 | |
| 4 Nov 2009 | +0.25 | 3.50 | |
| 7 Oct 2009 | +0.25 | 3.25 | |
| 2 Sep 2009 | 0.00 | 3.00 | |
| 5 Aug 2009 | 0.00 | 3.00 | |
| 8 Jul 2009 | 0.00 | 3.00 | |
| 3 Jun 2009 | 0.00 | 3.00 | |
| 6 May 2009 | 0.00 | 3.00 | |
| 8 Apr 2009 | -0.25 | 3.00 | |
| 4 Mar 2009 | 0.00 | 3.25 | |
| 4 Feb 2009 | -1.00 | 3.25 | |
| 3 Dec 2008 | -1.00 | 4.25 | |
| 5 Nov 2008 | -0.75 | 5.25 | |
| 8 Oct 2008 | -1.00 | 6.00 | |
| 3 Sep 2008 | -0.25 | 7.00 | |
| 6 Aug 2008 | 0.00 | 7.25 | |
| 2 Jul 2008 | 0.00 | 7.25 | |
| 4 Jun 2008 | 0.00 | 7.25 | |
| 7 May 2008 | 0.00 | 7.25 | |
| 2 Apr 2008 | 0.00 | 7.25 | |
| 5 Mar 2008 | +0.25 | 7.25 | |
| 6 Feb 2008 | +0.25 | 7.00 | |
