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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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The Reserve Bank's Domestic Market Operations

10 Jun 1985 Bulletin – June 1985
As explained earlier, the dealers' operations straddle the cash and clearing house funds markets. ... The rediscount rate and the central bank loan rate are at the Bank's discretion and each incorporates a penalty above relevant market rates.
https://www.rba.gov.au/publications/bulletin/1985/jun/2.html

The Effects of Funding Costs and Risk on Banks’ Lending Rates

16 Mar 2011 Bulletin PDF 225KB
Reserve Bank of Australia Bulletin March 2011
https://www.rba.gov.au/publications/bulletin/2011/mar/pdf/bu-0311-6.pdf

Financial-asset Prices and Monetary Policy: Theory and Evidence | Conference – 1997

21 Jul 1997 Conferences
Frank Smets
appreciation by raising interest rates as the exchange rate signals a rise in the demand for home goods which may lead to inflationary pressures. ... The estimate of the parameter γ implies that the Australian cash rate is raised by around 25 basis
https://www.rba.gov.au/publications/confs/1997/smets.html

Statement on Monetary Policy

10 May 2003 Bulletin – May 2003
The Reserve Bank of New Zealand reduced its official cash rate by 25 basis points to 5.5 per cent in April. ... In Japan, the central bank has maintained the cash rate at zero and has announced further measures to try to stimulate monetary expansion.
https://www.rba.gov.au/publications/bulletin/2003/may/1.html

Statement on Monetary Policy - August 2015

7 Aug 2015 SMP - August 2015 PDF 1966KB
https://www.rba.gov.au/publications/smp/2015/aug/pdf/0815.pdf

The Transmission of Monetary Policy through Banks' Balance Sheets

10 Feb 2020 Conferences PDF 1946KB
RBA Conference Volume 2018
https://www.rba.gov.au/publications/confs/2018/pdf/rba-conference-volume-2018-brassil-cheshire-muscatello.pdf

Semi-Annual Statement on Monetary Policy

10 May 1998 Bulletin – May 1998
At 5.6 per cent, the yield on 10-year US bonds is barely above the US cash rate – i.e. ... This is because arbitrage by market participants works to ensure that three-month interest rates reflect the expected average cash rate over that period.
https://www.rba.gov.au/publications/bulletin/1998/may/2.html

Economic Outlook

10 Feb 2020 SMP - November 2018 PDF 1604KB
https://www.rba.gov.au/publications/smp/2018/nov/pdf/05-economic-outlook.pdf

Statement on Monetary Policy

9 May 2019 SMP - May 2019 PDF 3062KB
https://www.rba.gov.au/publications/smp/2019/may/pdf/statement-on-monetary-policy-2019-05.pdf

Bank Funding and the Recent Tightening of Monetary Policy

17 Apr 2024 Bulletin - April 2024 PDF 1208KB
https://www.rba.gov.au/publications/bulletin/2024/apr/pdf/bank-funding-and-the-recent-tightening-of-monetary-policy.pdf