Interest Rate Decisions – 1995

The Reserve Bank Board is responsible for formulating monetary policy. The Reserve Bank sets the target ‘cash rate’, which is the market interest rate on overnight funds. Decisions regarding monetary policy are made by the Reserve Bank Board and explained in a media release announcing the decision at 2.30 pm after each Board meeting. (Prior to December 2007, media releases were issued only when the cash rate target was changed.)

There was no change in the cash rate in 1995.