Interest Rates Australia Prediction 2024. Amp chief economist shane oliver is expecting the rba will start lowering interest rates in june. 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.

From may 2022 to november 2023, the reserve bank of australia (rba) increased the cash rate 13 times, in an effort to tame inflation. Some see rate cuts from december 2024, a growing number doubt rates will move downwards till 2025, and other forecast rate rises.