Treasury calculates and provides the interest rates that apply to credit and deficit balances outstanding on worktags designated “Interest Allocating”.
These rates are updated monthly. Average Rates for Interest Allocating Accounts as of April 2023.
| Costs of Borrowing | Amounts on Deposit | Capital Projects | |
|---|---|---|---|
| 04/05/2023 | 7.20% | 4.25% | 5.70% |
| 04/12/2023 | 7.20% | 4.25% | 5.70% |
| 04/19/2023 | 7.20% | 4.25% | 5.70% |
| 04/26/2023 | 7.20% | 4.25% | 5.70% |
| Average | 7.20% p.a. | 4.25% p.a. | 5.70% p.a. |