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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 Reserve Bank of Australia has hiked the cash rate 12 times from a record-low of 0.1% in May last year — as the board has attempted to rein in inflation — to a target range between 2% and 3%.
This is a list of countries by annualized interest rate set by the central bank for charging commercial, ... Australia: 4.35 0.25: 8 November 2023 [9] 1.78 2.57
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
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% ...
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In Australia, the Reserve Bank of Australia sets the bank rate, known as the official cash rate. [4] Until 2024, the board would meet eleven times per year to review and set the cash rate. In 2023, it was announced that the board would meet only eight times, excluding the months of April, July, and October from its meeting schedule.
And we expect our effective corporate tax rate to be in the 36% to 37% range at strip pricing, excluding any onetime items, with an effective cash tax rate in the 35% to 36% range.