Monetary policy decisions are expressed in terms of a target for the cash rate, which is the overnight money market interest rate. The interest rate on a standard variable home loan is one of the most quoted prices for bank products. The Reserve Bank of Australia release data on a monthly basis, showing the average monthly interest rate on a standard variable home loan.
Key Features and Coverage on RIMES
For this data source, RIMES hosts 2 indices and 2 money markets; including:
- Reserve Bank of Australia Cash Rate Target
- Standard Variable Housing Loans Rates from Banks