At its December 2019 meeting, the Board of the Reserve Bank of Australia decided to hold the cash rate steady at 0.75%. Bank bill swap rates are as follows:

30 day

60 day

90 day

180 day

BBSW

0.81%

0.83%

0.88%

0.91%

Given the effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. The Board also agreed that due to both global and domestic factors, it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.

(Source: Reserve Bank of Australia)