Search: GDP
RBA Glossary definition for GDP
GDP – Gross Domestic Product. A key measure of the value of economic production in the economy. GDP is determined in one of three ways: the value of goods and services produced less the cost of production; the sum of incomes generated by production; the sum of final expenditure on goods and services produced plus exports minus imports. An average of the three approaches may be calculated and is also referred to as GDP.
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Statement by Philip Lowe, Governor: Monetary Policy Decision
1 Aug 2023
Media Releases
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent.
https://www.rba.gov.au/media-releases/2023/mr-23-19.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
2 May 2023
Media Releases
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.85 per cent. It also increased the rate paid on Exchange Settlement balances by 25 basis points to 3.75 per cent.
https://www.rba.gov.au/media-releases/2023/mr-23-10.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
7 Mar 2023
Media Releases
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.60 per cent.
https://www.rba.gov.au/media-releases/2023/mr-23-07.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
7 Feb 2023
Media Releases
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.35 per cent.
https://www.rba.gov.au/media-releases/2023/mr-23-04.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
1 Nov 2022
Media Releases
The Banks central forecast for GDP growth has been revised down a little, with growth of around 3 per cent expected this year and 1 per cent in 2023 and 2024.
https://www.rba.gov.au/media-releases/2022/mr-22-36.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
2 Aug 2022
Media Releases
At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent.
https://www.rba.gov.au/media-releases/2022/mr-22-21.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
3 May 2022
Media Releases
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 35 basis points.
https://www.rba.gov.au/media-releases/2022/mr-22-12.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
1 Feb 2022
Media Releases
At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. It also decided to cease further purchases under the bond purchase program, with the
https://www.rba.gov.au/media-releases/2022/mr-22-02.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
2 Nov 2021
Media Releases
The central forecast is for GDP growth of 3 per cent over 2021 and 5 per cent and 2 per cent over the following two years.
https://www.rba.gov.au/media-releases/2021/mr-21-24.html
Statement by Philip Lowe, Governor: Monetary Policy Decision
5 Oct 2021
Media Releases
The Delta outbreak has interrupted the recovery of the Australian economy and GDP is expected to have declined materially in the September quarter.
https://www.rba.gov.au/media-releases/2021/mr-21-22.html