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1 Dec 1992
RDP
9214
Bob Rankin
In practice, it is the unofficial cash rate which is targeted by the Bank (though, as explained later, the unofficial and official cash rates are about equal). ... take action to keep cash rates close to the announced target rate r.
https://www.rba.gov.au/publications/rdp/1992/9214/determination-of-cash-rates.html
1 Dec 1992
RDP
9214
Bob Rankin
Research Discussion Paper – RDP 9214 The Cash Market in Australia.
https://www.rba.gov.au/publications/rdp/1992/9214/
1 Dec 1992
RDP
9214
Bob Rankin
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1992/9214.html
1 Dec 1992
RDP
9214
Bob Rankin
Under this operating regime, cash rates have generally been within quite narrow bands around the announced target rates. ... for authorised dealers and the rediscount facility — should limit the scope for cash rates to rise.
https://www.rba.gov.au/publications/rdp/1992/9214/conclusion.html
1 Dec 1992
RDP
9214
Bob Rankin
The analysis in the paper is based on the Reserve Bank's present approach to monetary policy in which it announces a target cash rate and operates to maintain rates close ... The weighted average of these two rates is called the official cash rate.
https://www.rba.gov.au/publications/rdp/1992/9214/introduction.html
1 Dec 1992
RDP
9214
Bob Rankin
But the Reserve Bank has announced targets for cash rates — in order to keep to that target rate, the Reserve Bank would remove the imbalance by stepping in to inject cash ... from a Government deficit) or from rediscounts by banks (if cash rates rose
https://www.rba.gov.au/publications/rdp/1992/9214/daily-equilibrium.html