Interest Rates In 2024 Australia. At its august 2024 meeting, the reserve bank board decided to hold the cash rate. Interest rate in australia averaged 3.86 percent from 1990 until 2024, reaching an all time high of 17.50 percent in january of 1990 and a record low of 0.10 percent in november.

Term deposit rates vary depending on how much you wish to invest and for how long. The reserve bank has kept interest rates on hold at 4.35 per cent.