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

14 Sep 2020 RDP 2020-06
James Caddy, Luc Delaney and Chay Fisher
76. 45. 48. Average number of cash top-ups per person per week. ... Note: Share of respondents who reported using cash withdrawal and/or deposit services.
https://www.rba.gov.au/publications/rdp/2020/2020-06/full.html
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The Evolution of Monetary Policy: From Money Targets to Inflation Targets

7 Dec 2006 Conferences PDF 533KB
RBA Conference Volume 1997
https://www.rba.gov.au/publications/confs/1997/pdf/grenville.pdf

Robustness Exercises

3 Jan 2023 RDP 2022-09
Matthew Read
Although the robust credible intervals are narrower in the inflation-targeting period (compare Figures 6 and 9), this seems to largely reflect that the impact response of the cash rate is ... t. is restricted to be non-negative, so the central bank does
https://www.rba.gov.au/publications/rdp/2022/2022-09/robustness-exercises.html
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How Australians Pay: Evidence from the 2016 Consumer Payments Survey

1 Jul 2017 RDP 2017-04
Mary-Alice Doyle, Chay Fisher, Ed Tellez and Anirudh Yadav
amount, source) and the amount of cash they held after the top-up. ... Similarly, higher-income consumers have switched away from cash towards cards at a faster rate than respondents with lower incomes in recent years.
https://www.rba.gov.au/publications/rdp/2017/2017-04/full.html
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Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!

1 Apr 2023 RDP 2023-04
Jonathan Hambur
Many papers incorporate specific interest rates, such as the cash rate, or other short-term interest rates. ... The cash rate was reduced to around the effective lower bound, and various unconventional policies were introduced, including a yield curve
https://www.rba.gov.au/publications/rdp/2023/2023-04/full.html
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Money and Finance | Conference – 1990

21 Jun 1990 Conferences
Ross Milbourne
market. prices. open market. operations. cash rate. other interest. rates. exchange rate. ... In this case, the cash rate would have to continue at its new level for some time in order to induce a change in other bank interest rates.
https://www.rba.gov.au/publications/confs/1990/milbourne.html

Where's the Money? An Investigation into the Whereabouts and Uses of Australian Banknotes

1 Dec 2018 RDP 2018-12
Richard Finlay, Andrew Staib and Max Wakefield
While we believe that the loss rates of paper banknotes serves as a reasonable indicator for the loss rate of polymer banknotes, there are some important reasons why they may differ. ... Thus, broadly speaking, only the transactional stock of banknotes
https://www.rba.gov.au/publications/rdp/2018/2018-12/full.html
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Introduction | Conference – 2018

12 Apr 2018 Conferences
John Simon
Their main finding is that, while cash rate changes between 2003 and 2012 were fully passed through to the major banks' lending and deposit rates (in aggregate), pass-through since 2012 ... has fallen to around 90 per cent as the major banks' return on
https://www.rba.gov.au/publications/confs/2018/introduction.html

Fiscal, Monetary and Macroprudential Regimes: Incentives-Values Compatibility in Constitutional Democracies

28 Dec 2022 Conferences PDF 375KB
RBA Annual Conference 2022
https://www.rba.gov.au/publications/confs/2022/pdf/rba-conference-2022-tucker.pdf

The Evolving Structure of the Australian Financial System | Conference – 1996

9 Jul 1996 Conferences
Malcolm Edey and Brian Gray
These concerns partly reflected the fact that key lending rates fell less than one-for-one with cash rates during the extended period of cash-rate reductions in the early 1990s, ... Secondly, abstracting from cyclical movements, both deposit and lending
https://www.rba.gov.au/publications/confs/1996/edey-gray.html