Search results
Results From The WOW.Com Content Network
The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy.
The bank's main policy role is to control inflation levels within a target range of 2–3%, by controlling the unemployment rate according to the 'non-accelerating inflation rate of unemployment' by controlling the official cash rate. The NAIRU was implemented in most western nations after 1975, and has been maintained at a target of 5–6% ...
interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate minus average inflation rate (2017–2021) Afghanistan: 6.00 3.00: 24 July 2021 [3] 3.38 2.62 Albania: 2.75 0.25: 6 November 2024 [4] 1.78 0.97 Algeria: 3.00 0.25: 29 April 2020 [5] 4.14 ...
The Federal Reserve increased interest rates to combat inflation, causing CD rates to surge — they started at around 4% in 1971 and reached nearly 13.5% by the end of 1979. The 1980s
The impact of decreased protection of car manufacturing was magnified by historically high Australian Dollar to US Dollar exchange rates, during the years from 2010 to 2014. Australia now imports virtually all its vehicles, many from countries that protect their local vehicle markets – like Thailand – with import duties of up to 80% on ...
12 March - In a sign the interest rate cycle may have turned, rising global bond yields through 2021 caused the 30 year US mortgage rate to increase 0.4% (2.65% -> 3.05%) through January and February, despite central banks doubling down on low interest commitments to assure markets they will let inflation run rather than raise rates prematurely.
The recession happened because of the unwinding of the excesses of the 1980s, the international recession of the early 1990s, and the high-interest rates". High-interest rates were employed to slow the asset price boom of 1988–89. Treasurer Keating, the Reserve Bank, and Treasury itself generally agreed on the need for high-interest rates in ...
15 February – The Reserve Bank of Australia cuts official interest rates by half a percent – a move which Federal Opposition MP John Hewson described as "blatantly playing politics". 16 February – Prime Minister Bob Hawke announces a 24 March election date.