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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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Governor's Foreword

4 Sep 2008 RBA Annual Report – 2008
Large increases in oil and other commodity prices disrupted growth and inflation rates, while serious problems in international financial markets further complicated the tasks facing central banks. ... It now releases a statement each month regardless of
https://www.rba.gov.au/publications/annual-reports/rba/2008/gov-foreword.html

Business Services

3 Aug 2000 RBA Annual Report – 2000
cash distribution arrangements; and research into and development of note designs and security features. ... In combination with changes to cash distribution arrangements, this has resulted in a significantly reduced note-processing task.
https://www.rba.gov.au/publications/annual-reports/rba/2000/bus-serv.html

Governor's Foreword

16 Oct 2015 RBA Annual Report – 2015
After a lengthy period of stability in policy settings, the Reserve Bank Board adjusted the cash rate twice during 2014/15, taking it to 2 per cent, the lowest recorded on ... As explained in the chapter on ‘Earnings and Distribution’, the fall in
https://www.rba.gov.au/publications/annual-reports/rba/2015/governors-foreword.html

Operations in Financial Markets

3 Aug 2000 RBA Annual Report – 2000
Movements in the Target Cash Rate. Change (Percentage Points). New Level (per cent). ... In pursuing the cash rate objective, the RBA faced two main challenges during the year.
https://www.rba.gov.au/publications/annual-reports/rba/2000/oper-fin-mkts.html

Governor's Foreword

28 Aug 2006 RBA Annual Report – 2006
There was one tightening of monetary policy during the financial year – a 25 basis point rise in the cash rate in May, followed by another in August 2006. ... Domestic money market operations were, as usual, aimed at maintaining the cash rate at the
https://www.rba.gov.au/publications/annual-reports/rba/2006/foreword.html

Annual Report-1967-Economic Developments and Monetary Policy

31 Dec 1967 Annual Report
This was partly explained by taxes continuing to take an increasing proportion of income, although the rise was not as strong as in the previous year when tax rates were increased. ... While long term rates tended to remain relatively stable, short and
https://www.rba.gov.au/publications/annual-reports/rba/1967/eco-dev-mon-policy.html

The Evolving Structure of the RBA

3 Aug 2000 RBA Annual Report – 2000
Computerisation of clerical functions led to some efficiencies but the need to move cash physically under secure conditions limited the application of technology compared with banking and registry. ... Certain reforms had a direct impact on staff numbers,
https://www.rba.gov.au/publications/annual-reports/rba/2000/rba-structure.html

Trends in the Australian Payments System

26 Sep 2006 PSB Annual Report – 2006
On average, there are at least 13 million non-cash payments made in Australia each day. ... These data show that around 85 per cent of the value of cash withdrawn through these channels is through ATMs.
https://www.rba.gov.au/publications/annual-reports/psb/2006/au-payments.html

Operations in Financial Markets

30 Jun 1998 RBA Annual Report – 1998
to the banking system to maintain the cash rate around the desired level. ... Initially, the interest rate was set at 10 basis points below the target cash rate, in line with the typical rate banks received on loans to dealers.
https://www.rba.gov.au/publications/annual-reports/rba/1998/oper-fin-mkts.html

Governor's Foreword

29 Aug 2011 RBA Annual Report – 2011
one change to the cash rate in 2010/11, the most stable outcome for five years. ... Total operating costs increased by 4.1 per cent, the lowest rate of increase for seven years.
https://www.rba.gov.au/publications/annual-reports/rba/2011/gov-foreword.html