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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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Summaries of the Papers | Conference – 1998

9 Jun 1998 Conferences
In the model, the government is assumed to intervene in labour markets whenever the unemployment rate is above a target rate. ... Unemployment rates in each state generally do not differ greatly from the national rate, but a greater degree of variation
https://www.rba.gov.au/publications/confs/1998/summaries-98.html

Discussion | Conference – 2018

12 Apr 2018 Conferences
The paper recursively estimates loadings of real gross domestic product (GDP), CPI inflation, and the overnight cash rate (OCR) on the factors, and finds that they stabilise over time rather than ... In an ideal world, central banks should be moving
https://www.rba.gov.au/publications/confs/2018/hartigan-morley-disc.html

A Rebalancing Chinese Economy: Challenges and International Implications | Conference – 2016

18 Mar 2016 Conferences
Guonan Ma, Ivan Roberts and Gerard Kelly
To some extent, de facto interest rate deregulation since the late 2000s via rapid issuance of wealth management products with market-based interest rates may have offset the effect of regulated ... Logically, for instance, interest rates need to be
https://www.rba.gov.au/publications/confs/2016/ma-roberts-kelly.html

Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit | Conference – 2012

20 Aug 2012 Conferences
Kenneth Kuttner and Ilhyock Shim
Most of the short-term interest rate series, i. s. , are the money market interest rates from the IFS database. ... These short-term interest rates tend to move closely with the policy rate, while long-term lending rates may only indirectly reflect
https://www.rba.gov.au/publications/confs/2012/kuttner-shim.html

National Saving: Trends and Policy | Conference – 2000

24 Jul 2000 Conferences
Malcolm Edey and Luke Gower
One indicator of this is an adjusted ‘cash-flow’ measure of the household saving rate. ... This was enacted to commence on 1 July 1992, with a target contribution rate of 9 per cent by 2002/03.
https://www.rba.gov.au/publications/confs/2000/edey-gower.html

Property Prices and Bank Risk-taking | Conference – 2012

20 Aug 2012 Conferences
Giovanni Dell'Ariccia
and a higher unemployment rate (and possibly an inflation rate below the desired target range). ... States) in the short run if banks are overexposed to interest rate risk.
https://www.rba.gov.au/publications/confs/2012/dellariccia.html

Banking Deregulation – A Virtue or a Necessity? | Conference – 1991

21 Jun 1991 Conferences
Rob Ferguson
only minimally about corporate credit risk issues into the dangerous world of high interest rate lending. ... To quote Dr Wojnilower again, “very much like the old interest-rate ceilings on deposits, which largely prevented regulated institutions from
https://www.rba.gov.au/publications/confs/1991/ferguson.html

Risk and the Transformation of the Australian Financial System | Conference – 2007

20 Aug 2007 Conferences
Chris Ryan and Chris Thompson
The banks responded to this competition by reducing the spread between their standard variable home loan rates and the cash rate by about 3 percentage points between 1993 and 1997. ... Whereas the banks' standard home loan indicator rates have moved in
https://www.rba.gov.au/publications/confs/2007/ryan-thompson.html

Australian Macroeconomic Performance and Policies in the 1990s | Conference – 2000

21 Jun 1990 Conferences
David Gruen and Glenn Stevens
6.6. 3.9. Real short-term interest rates (cash rate less Treasury underlying inflation). ... Deregulation of the key financial prices – interest rates on government debt, and the exchange rate – in the 1980s gave the Reserve Bank the capacity to
https://www.rba.gov.au/publications/confs/2000/gruen-stevens.html

The Australian Labour Market in the 1990s | Conference – 2000

21 Jun 1990 Conferences
Peter Dawkins
A target of a 5 per cent unemployment rate was set and significant progress was made in that direction in 1994. ... Further, the labour force participation rate has not grown much in this long expansion period.
https://www.rba.gov.au/publications/confs/2000/dawkins.html