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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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Exploring the Link between the Macroeconomic and Financial Cycles | Conference – 2017

16 Mar 2017 Conferences
Adam Cagliarini and Fiona Price
rate; and the macroeconomic variables are gross domestic product (GDP), employment and the unemployment rate. ... This method has the advantage of being able to estimate classical cycles, rather than cycles in growth rates.
https://www.rba.gov.au/publications/confs/2017/cagliarini-price.html

Introduction | Conference – 1998

9 Jun 1998 Conferences
Guy Debelle
Firstly, unemployment rates are higher in Europe than in the US across all skill categories. ... The substantial rise in the unemployment rate and the wide range of unemployment rates across different groups in the population both suggest that much of
https://www.rba.gov.au/publications/confs/1998/intro-98.html

List of graphs | Submission to the Financial System Inquiry March 2014 | Financial Sector | Submissions

1 Mar 2014 Submissions
Graph 6.6: Interest Margins on Variable-rate Mortgages. ... Graph 7.11: Pension Funds' Current and Target Allocations to Infrastructure Assets.
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/graphs.html

The Rise in US Household Indebtedness: Causes and Consequences | Conference – 2007

20 Aug 2007 Conferences
Karen E Dynan and Donald L Kohn
Thus, the average interest rate on household debt responds gradually to shifts in market rates. ... Sub-prime delinquency rates fell to multi-year lows in mid 2005 amid a robust housing market but then began to rise, particularly those for variable-rate
https://www.rba.gov.au/publications/confs/2007/dynan-kohn.html

Restructuring and Reform: China 2016 | Conference – 2016

18 Mar 2016 Conferences
Barry Naughton
than the 9.5 per cent growth rate of all service sector firms’ (trans by author). ... Coal and steel production have been earmarked as the first targets for reduction in capacity.
https://www.rba.gov.au/publications/confs/2016/naughton.html

Setting Monetary Policy in East Asia: Goals, Developments and Institutions | Conference – 2001

24 Jul 2001 Conferences
Robert N McCauley
b) The US Federal Reserve first raised the Federal Funds target rate in June 1999 and tightened in five further steps through to May 2000. ... The adoption of the official cash rate regime has been associated with a small dampening of interest-rate
https://www.rba.gov.au/publications/confs/2001/mccauley.html

Central Bank Liquidity Provision and Core Funding Markets | Conference – 2013

19 Aug 2013 Conferences
Grahame Johnson and Eric Santor
Securities lending. While relatively small in size, securities lending markets facilitate a range of financing activities for both the cash and repo markets. ... It was designed to target distortions of system-wide importance (a sharp and broad-based
https://www.rba.gov.au/publications/confs/2013/johnson-santor.html

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

Recent Developments in State Level Economic Activity and Inflation – April 2008

30 Apr 2008 Submissions
Recent Developments in State Level Economic Activity and Inflation - 30 April 2008
https://www.rba.gov.au/publications/submissions/economic-activity/recent-developments-in-state-level-economic-activity-and-inflation/

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