RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%  
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Example Interest Rates: Home Loan Variable: 5.20% (5.24%*) • Home Loan Fixed: 5.48% (6.24%*) • Fixed: 5.48% (6.24%*) • Variable: 5.20% (5.24%*) • Investment IO: 5.78% (6.81%*) • Investment PI: 5.49% (6.32%*)

History of Sydney’s RBA Building

The land on which the Reserve Bank is built, was once occupied by the first Wesleyan Chapel, built in 1821. The chapel was subsequently used as a Unitarian Chapel in 1850. The buildings were purchased in 1843 by the Roman Catholic Church to be used as a school, and they were subsequently demolished c1876. There land also included a freestanding Georgian house occupied by a solicitor, and a Georgian cottage.

By the mid-1870s, following the demolition of the church and school, a row of three three-storey Italianate terrace houses known as "Lucretia Terrace" was erected (c1876). The Georgian house was later demolished and two four-storey late Victorian terrace houses were erected (1891). Around 1875 the Georgian cottage was demolished, and the cottage next door and two three-storey terraces were built; one of these was demolished in 1921 and a three-storey brick building known as "Whitehall" was erected on the site (pictured).

Whitehall - used as medical suite housing two practitioners - was purchased by the Municipal Council of Sydney in 1926 along with numerous other sites in Macquarie and Phillip Streets in anticipation of the extension of Martin Place. In 1957, the Director-General of Works (Dr Lodge) suggested to the Governor of the Commonwealth Bank that the site at the top of Martin Place, owned by the Sydney City Council, would be suitable for the construction of the head office of the Reserve Bank.

Whitehall was finally demolished in 1959 for the construction of the (now Heritage Listed) Reserve Bank. A photograph of 219-215 Macquarie Street Sydney taken shortly before demolition is pictured(its the 'whiter' photograph).

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