Search: interbank overnight rate
RBA Glossary definition for interbank overnight rate
interbank overnight rate – The interbank overnight rate (also known as the cash rate) is the interest rate which banks pay or charge to borrow funds from or lend funds to other banks on an overnight unsecured basis. The Reserve Bank of Australia uses this rate as an operational target for the implementation of monetary policy. The Reserve Bank of Australia calculates and publishes this rate each day on the basis of data collected directly from banks. The interbank overnight rate has been published by the Reserve Bank of Australia since June 1998.
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Domestic Financial Markets
15 Feb 2017
SMP
– February 2017
Rates on overnight indexed swaps (OIS) imply that markets expect the cash rate to remain unchanged over the course of this year (Graph 4.1). ... The unsecured interbank overnight interest rate – the cash rate – has continued to trade at the Reserve
https://www.rba.gov.au/publications/smp/2017/feb/domestic-financial-markets.html
Box B: Recent Developments in Foreign Exchange Markets
8 May 2020
SMP
– May 2020
For example, the basis derived from interbank rates on 3-month foreign exchange swaps in which Japanese yen were swapped for US dollars (i.e., where yen served as collateral for ... those that are derived from overnight indexed swap markets (therefore
https://www.rba.gov.au/publications/smp/2020/may/box-b-recent-developments-in-foreign-exchange-markets.html
International and Foreign Exchange Markets
10 May 2014
SMP
– May 2014
The decline in the ECB's balance sheet has seen excess liquidity fall to around 100 billon, which has pushed the overnight interbank rate towards the main policy rate, after trading ... Pricing of interest rate swaps imply that market participants expect
https://www.rba.gov.au/publications/smp/2014/may/intl-fx-mkts.html
The Australian Money Market
1 May 1987
RDP
8702
If interbank settlement were on a same day basis, the Reserve Bank would have difficulty forecasting banks' needs for cash and this could lead to larger swings in overnight interest rates. ... Since dealers can always acquire same day funds by borrowing
https://www.rba.gov.au/publications/rdp/1987/8702/the-australian-money-market.html
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Domestic Financial Markets
10 Nov 2013
SMP
– November 2013
Rates on overnight indexed swaps (OIS) currently imply that the cash rate is likely to remain at 2.50 per cent over the next year (Graph 4.1). ... This reduced advertised rates on package variable-rate home loans to below the average advertised rate
https://www.rba.gov.au/publications/smp/2013/nov/dom-fin-mkts.html
Domestic Financial Markets
10 May 2013
SMP
– May 2013
Rates on overnight indexed swaps (OIS) currently imply an expectation of a reduction in the cash rate target to 2.5 per cent in the second half of the year ... While RMBS issuance spreads have declined, the interest rate on the mortgages in the
https://www.rba.gov.au/publications/smp/2013/may/dom-fin-mkts.html
Domestic Financial Markets
10 Nov 2011
SMP
– November 2011
The average rate on major banks' new term deposit ‘specials’ fell by around 40 basis points over the past quarter, reflecting the decline in market benchmark rates (Graph 4.6). ... Most banks have announced reductions in their indicator rates on
https://www.rba.gov.au/publications/smp/2011/nov/dom-fin-mkts.html
Domestic Financial Markets
10 Feb 2012
SMP
– February 2012
Overnight index swap (OIS) rates now indicate an expectation that the Reserve Bank will reduce the cash rate to around 3 per cent later in the year. ... Rates on new fixed-rate mortgages have also fallen since the end of October.
https://www.rba.gov.au/publications/smp/2012/feb/dom-fin-mkts.html
International and Foreign Exchange Markets
10 Aug 2011
SMP
– August 2011
interest rate will be lowered (to around 3 per cent under current conditions). ... In the interbank lending market this has been reflected in higher spreads between US dollar forward rates and overnight indexed swaps (OIS), while in foreign exchange
https://www.rba.gov.au/publications/smp/2011/aug/intl-fx-mkts.html
International and Foreign Exchange Markets
15 Feb 2017
SMP
– February 2017
In China, the level and volatility of interbank interest rates has remained elevated in recent months. ... In China, the rise in yields partly reflects stronger Chinese economic activity and inflation data, and higher short-term interbank interest rates.
https://www.rba.gov.au/publications/smp/2017/feb/international-and-foreign-exchange-markets.html