Reserve Bank of Australia (RBA) interest rates are running at an average of 4.732 percent since February 2008, the year when the global financial crisis (GFC) hit hard.

The RBA maintained the 4.5 percent interest rate close to their average of the past decade, but expected economic conditions in the future to raise interest rates. In a media statement, the RBA explained maintaining the cash rate this month was to ensure that inflation remains consistent with the medium-term target.

The current inflation figure is 3.1 percent.

The highest interest rate since 2008 was 7.25 percent. The cash rate was handed down in March 2008, two months after continuous rains flooded parts of south east Queensland and the northern part of New South Wales.

The 7.25 percent rate also followed after the new parliament prime minister Kevin Rudd apologized to indigenous Australians and two weeks after speakers lost control over the entire house.

The lowest cash rate was 3.0 percent in April 2009, a month after the Victorian bush fires were declared contained and after MV Pacific Adventurer spilled 230,000 liters of fuel oil in south Queensland's coastline.

The RBA is expected to raise the interest rate before the end of 2010.