Search: Cash Rate

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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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Statement by the Governor, Mr Bernie Fraser: Interest Rate Reductions

3 Sep 1991 Media Releases
Announcement of reduction in the cash rate by 1 percentage point to 9.50 per cent
https://www.rba.gov.au/media-releases/1991/mr-91-15.html

Statement by the Reserve Bank Board: Monetary Policy Decision

6 Feb 2024 Media Releases
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.
https://www.rba.gov.au/media-releases/2024/mr-24-01.html

Statement by the Reserve Bank Board: Monetary Policy Decision

19 Mar 2024 Media Releases
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.
https://www.rba.gov.au/media-releases/2024/mr-24-05.html

Statement by the Governor, Mr Bernie Fraser: Reduction in Interest Rates

30 Jul 1993 Media Releases
Announcement of reduction in the cash rate by 0.5 per cent to 4.75 per cent
https://www.rba.gov.au/media-releases/1993/mr-93-17.html

Statement by the Governor, Mr Ian Macfarlane: Reduction in Interest Rates

11 Dec 1996 Media Releases
Announcement of reduction in the cash rate from 6.5 per cent to 6.0 per cent
https://www.rba.gov.au/media-releases/1996/mr-96-14.html

Statement by the Governor, Mr Ian Macfarlane: Reduction in Interest Rates

30 Jul 1997 Media Releases
Announcement of reduction in the cash rate by 50 basis points, to 5.0 per cent
https://www.rba.gov.au/media-releases/1997/mr-97-15.html

Statement by the Governor, Mr Bernie Fraser: Reduction in Interest Rates

31 Jul 1996 Media Releases
Announcement of reduction in the cash rate by 0.5 percent, to around 7 per cent
https://www.rba.gov.au/media-releases/1996/mr-96-09.html

Statement by the Governor, Mr Ian Macfarlane: Reduction in Interest Rates

6 Nov 1996 Media Releases
Announcement of reduction in the cash rate by 0.5 of a percentage point to 6.5 per cent
https://www.rba.gov.au/media-releases/1996/mr-96-13.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

5 Sep 2023 Media Releases
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent.
https://www.rba.gov.au/media-releases/2023/mr-23-23.html

Statement by the Governor, Mr Ian Macfarlane: Reduction in Interest Rates

23 May 1997 Media Releases
Announcement of reduction in the cash rate from 6.0 per cent to 5.5 per cent
https://www.rba.gov.au/media-releases/1997/mr-97-10.html