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RBA Glossary definition for cash rate target

cash rate target – As in most developed countries, the stance of monetary policy in Australia is expressed in terms of a target for an overnight interest rate. The rate used by the Reserve Bank of Australia is the cash rate (also known as the interbank overnight rate). When the Reserve Bank Board decides that a change in monetary policy should occur, it specifies a new target for the cash rate. A decision to ease policy is reflected in a new lower target for the cash rate, while a decision to tighten policy is reflected in a higher target.

RBA Glossary definition for Cash Rate

Cash Rate – The interest rate which banks pay to borrow funds from other banks in the money market on an overnight basis. The cash rate is the Reserve Bank of Australia's operational target for the implementation of monetary policy. It is also an important financial benchmark in the Australian financial markets. It is used as the reference rate for Australian dollar Overnight Indexed Swaps (OIS) and the ASX 30 Day Interbank Cash Rate Futures. The Reserve Bank of Australia is the administrator of the cash rate. The cash rate is calculated as the weighted average interest rate on overnight unsecured loans between banks settled in the Reserve Bank Information and Transfer System (RITS). The Cash Rate is also known by the acronym AONIA in financial markets.

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Annual Performance Statement for 2018/19

17 Oct 2019 RBA Annual Report – 2019
Financial market operations. Achieve cash rate target. Overnight cash rate consistent with the target each business day. ... The cash rate was consistent with the target every day during 2018/19.
https://www.rba.gov.au/publications/annual-reports/rba/2019/annual-performance-statement.html

Note 1 – Accounting Policies | Financial Statements

16 Oct 2015 RBA Annual Report – 2015
The RBA accrues interest revenue daily on open repurchase agreements at the target cash rate. ... The pricing of the swap therefore reflects the interest rates applicable to these money market transactions.
https://www.rba.gov.au/publications/annual-reports/rba/2015/fin-statements/note-1.html

Note 1 – Accounting Policies | Financial Statements

20 Sep 2018 RBA Annual Report – 2018
The RBA accrues interest daily on open repurchase agreements at the target cash rate. ... The pricing of the swap therefore reflects the interest rates applicable to these money market transactions.
https://www.rba.gov.au/publications/annual-reports/rba/2018/financial-statements/note-1.html

Operations in Financial Markets

4 Sep 2008 RBA Annual Report – 2008
The Reserve Bank remunerates ES balances at a rate 25 basis points below the cash rate target. ... By international standards, this is a very small variation. Deviations from Cash Rate Target.
https://www.rba.gov.au/publications/annual-reports/rba/2008/balance-sheet.html

Note 1 – Accounting Policies | Financial Statements

12 Sep 2014 RBA Annual Report – 2014
The RBA accrues interest revenue daily on open repurchase agreements at the target cash rate. ... The pricing of the swap therefore reflects the interest rates applicable to these money market transactions.
https://www.rba.gov.au/publications/annual-reports/rba/2014/fin-statements/note-1.html

Our Role

21 Oct 2021 RBA Annual Report – 2021
Policies in pursuit of these objectives have found practical expression in a flexible, medium-term inflation target, which has formed the basis of Australia's monetary policy framework since the early ... The Bank conducts domestic market operations in
https://www.rba.gov.au/publications/annual-reports/rba/2021/our-role.html

Operations in Financial Markets

16 Oct 2013 RBA Annual Report – 2013
The Bank pays interest on ES balances at a rate 25 basis points below the Board's cash rate target. ... The rate earned by the Bank on cash invested in that repo is set at the cash rate target.
https://www.rba.gov.au/publications/annual-reports/rba/2013/ops-fin-mkts.html

Note 1 – Accounting Policies

17 Oct 2019 RBA Annual Report – 2019
The RBA accrues interest daily on open repurchase agreements at the target cash rate. ... The pricing of the swap therefore reflects the interest rates applicable to these money market transactions.
https://www.rba.gov.au/publications/annual-reports/rba/2019/financial-statements/note-1.html

Banknotes

21 Oct 2021 RBA Annual Report – 2021
Sources: RBA. The Bank also surveyed retail businesses about their acceptance of cash. ... However, there is limited access to cash in some regional and remote parts of Australia.
https://www.rba.gov.au/publications/annual-reports/rba/2021/banknotes.html

Note 1 – Accounting Policies | Financial Statements

24 Oct 2016 RBA Annual Report – 2016
The RBA accrues interest daily on open repurchase agreements at the target cash rate. ... The pricing of the swap therefore reflects the interest rates applicable to these money market transactions.
https://www.rba.gov.au/publications/annual-reports/rba/2016/financial-statements/note-1.html