World Economy/Australia

🇦🇺

Australia

AUS

Asia-Pacific • Sovereign Currency: AUD

Analyze Australia with Schema AI

Nominal GDP

$1.79T

2024 Nominal

Annual GDP Growth

+1.0%

YoY Q2 2024 YoY

Inflation (CPI)

2.8%

Q3 2024 Headline YoY

Policy Rate

4.35%

Cash Rate Target

10Y Sovereign Yield

4.58%

Australian 10Y Treasury Bond

Unemployment Rate

4.1%

Oct 2024

Debt-to-GDP

52.4%

2024 General Government

Trade Balance

+$4.6B

Sep 2024 Goods & Services

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇦🇺RESERVE BANK OF AUSTRALIA POLICY DASHBOARD

Target Instrument: Cash Rate Target • Sovereign: Australia (AUS)

STANCE: neutral

Next Meeting: 2026-12-10

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

4.35%Unchanged (0 bps)

Cash Rate Target

REAL CARRY SPREAD (r - π)

+1.55%

Restrictive Drag

OVERNIGHT BENCHMARK (AONIA)

4.30%-5 bps

Australian Overnight Index Average

YIELD CURVE SLOPE (10Y - r)

+0.23%

Normal Upward Slope

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Q3 2024 Headline YoY

Anchored within standard statutory price stability corridor

Australian Bureau of Statistics (ABS)Ref

2.80%

MILD LOOSE

Distance to Inflation Target (2.0%)Q3 2024 Headline YoY

Headline inflation exceeds 2% anchor by 0.80 percentage points

Australian Bureau of Statistics (ABS)Ref

+0.80%

MILD LOOSE

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ2 2024 YoY

Sluggish real economic momentum

Australian Bureau of Statistics (ABS)Ref

1.00%

MILD TIGHT

Unemployment Rate (Labor Slack)Oct 2024

Balanced labor market matching full employment capacity

Australian Bureau of Statistics (ABS)Ref

4.10%

MILD LOOSE

FINANCIAL CONDITIONS4 METRICS

Cash Rate TargetCash Rate Target

Official statutory policy target rate set by Reserve Bank of Australia

Reserve Bank of Australia (RBA)Ref

4.35%

LOOSER

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

Reserve Bank of Australia vs Australian Bureau of Statistics (ABS)

+1.55%

LOOSER

10-Year Sovereign Benchmark YieldAustralian 10Y Treasury Bond

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

Australian Office of Financial Management (AOFM)Ref

4.58%

IN LINE

Yield Curve Slope (10Y - Policy Rate)Calculated

Upward-sloping normal term structure (+0.23%)

Sovereign Debt Desk vs Central Bank Target

+0.23%

IN LINE

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024 Goods & Services

Trade balance surplus reinforcing sovereign foreign exchange buffer

Australian Bureau of Statistics (ABS)Ref

+$4.6B

MILD LOOSE

General Government Debt / GDP2024 General Government

Fiscal debt load within statutory prudential headroom boundary

IMF Fiscal Monitor / Australian TreasuryRef

52.40%

MILD LOOSE

HISTORICAL RATE DECISION TRAJECTORY (CASH RATE TARGET)

Verified Chronological Decisions

2026-10-09

4.35%

Policy Assessment Summary: Operational target for the overnight cash market.

Key Domestic Equities & Capital Markets

Major corporate champions tracked in WOWS with sovereign economic exposure

Index: S&P/ASX 200 (ASX200)