Monetary policy involves using interest rates to influence aggregate demand, employment and inflation in the economy. Since 1990 the RBA has used the cash rate as a means of moderating their \'inflation target\' of between 2 and 3%, since inflation has an impact on our everyday living expenses and economic growth.
This graph provides a simple comparison between certain products and the associated comparison rate. The purpose is to demonstrate how the rate itself may be misleading as it doesn\'t take various other fees and ongoing charges into consideration.
A comprehensive source of lender product data is maintained and updated daily. Review product data here. Product data is provided in a tiered manner; each lender includes an archive of their primary products, and each product links to a page with full product rate and borrowing criteria.