Understanding Australia's Cash Rate and Its Impact on Interest Rates, Loans, and the AUD/KRW Exchange Rate
Australia's economic landscape is significantly influenced by the Reserve Bank of Australia's (RBA) cash rate , which serves as the benchmark for interest rates across the economy. The RBA meets 11 times a year, typically on the first Tuesday of each month except January, to review and decide on monetary policy settings, including the cash rate. At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10% and the interest rate paid on Exchange Settlement balances at 4%, a decision influenced by global trade uncertainties and domestic economic conditions despite inflation moderating.