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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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Macroprudential Limits on Mortgage Products: The Australian Experience

4 Aug 2021 RDP PDF 2345KB
quarter t , minus the cash rate, in percentage points. It is first differenced in most regressions. ... controls, given that the cash rate is a very strong determinant of mortgage rates.
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-07.pdf

Submission to Payments System Review

3 Feb 2021 Submissions PDF 1155KB
protection across the financial system, which includes oversight of providers of non-cash payment. ... accounted for less than per cent of all non-cash payments by number.
https://www.rba.gov.au/publications/submissions/payments-system/pdf/submission-to-payments-system-review-01-2021.pdf

The Role of Collateral in Borrowing

14 Jan 2021 RDP PDF 1784KB
monetary policy implementation target. The rate has historically displayed very little cross-sectional. ... variance and has not been indicative of counterparty risk. The RBA keeps the rate at target by.
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-01.pdf

Non-technical summary for 'The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases'

19 May 2022 RDP PDF 469KB
RDP 2022-02 non-technical summary
https://www.rba.gov.au/publications/rdp/2022/2022-02/rdp-2022-02-non-technical-summary.pdf

Is the Phillips Curve Still a Curve? Evidence from the Regions

29 Aug 2021 RDP PDF 1706KB
cash rate will not be raised until inflation is sustainably within the 2 to 3 per cent target range. ... prevent inflation straying too far from target (tolerating a higher unemployment rate to achieve.
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-09.pdf

Submission to the Financial System Inquiry March 2014

10 Nov 2017 Submissions PDF 3041KB
Financial System Inquiry
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/pdf/financial-system-inquiry-2014-03.pdf

Anticipatory Monetary Policy and the ‘Price Puzzle’

18 May 2017 RDP PDF 2157KB
2.1 Step #1: Construct the Measure of Monetary Shocks. The Board of the RBA meet to decide on the target cash rate 11 times per year, on the first Tuesday ... That is, we regress the change in the target cash rate announced at Board meeting m on the
https://www.rba.gov.au/publications/rdp/2017/pdf/rdp2017-02.pdf

Consumer Payment Behaviour in Australia: Evidence from the 2019 Consumer Payments Survey

9 Sep 2020 RDP PDF 1619KB
use of digital payment credentials. Despite the trend towards electronic payments, cash still. ... predominantly low-value payments). Consumers in all broad demographic groups are using cash.
https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-06.pdf

Monetary Policy Goals for Inflation in Australia

30 Nov 2009 RDP PDF 85KB
The coefficient on R is the mean coefficient on lags 2 to 5 of the real cash rate. ... is at its target rate of0.5 per cent per quarter, and output is growing at trend.
https://www.rba.gov.au/publications/rdp/1995/pdf/rdp9503.pdf

NESA Review of Commerce Years 7-10 Syllabus

30 Jul 2018 Submissions PDF 1687KB
In particular, monetary policy is used to target inflation, one of the economic performance indicators referenced in the syllabus and specifically in ‘Our Economy’. ... NESA REVIEW OF COMMERCE YEARS 7-10 SYLLABUS | 2. Furthermore, the instrument of
https://www.rba.gov.au/publications/submissions/other/submission-to-nesa-review-of-commerce-years-7-10-syllabus-2018/pdf/submission-to-nesa-review-of-commerce-years-7-10-syllabus.pdf