Search: cash rate target

Sort by: Relevance Date
31–40 of 602 search results for cash rate target

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.

Search Results

Credibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada | Conference – 2018

12 Apr 2018 Conferences
Thomas J Carter, Rhys Mendes and Lawrence L Schembri
This departure left the BoC in need of a target that could replace the exchange rate as a nominal anchor for monetary policy. ... Among its themes were two factors that potentially favoured a target higher than 2 per cent, namely downward nominal wage
https://www.rba.gov.au/publications/confs/2018/carter-mendes-schembri.html

Recent Developments in Federal Reserve System Liquidity and Reserve Operations | Conference – 2008

14 Jul 2008 Conferences
Spence Hilton
banks can borrow or lend with the central bank – ensure as best they can that expectations for rates on future days in the maintenance period are around the target rate. ... deficient, which according to the preceding description of rate determination
https://www.rba.gov.au/publications/confs/2008/hilton.html

Strategies for Controlling Inflation | Conference – 1997

21 Jul 1997 Conferences
Frederic S. Mishkin
Like monetary-aggregate and exchange-rate targets, it is readily understood by the public, but, even more directly than the others, it makes clear the commitment to price stability. ... In contrast to the exchange-rate target, but like the
https://www.rba.gov.au/publications/confs/1997/mishkin.html

Inflation Targeting in New Zealand: An Experience in Evolution | Conference – 2018

12 Apr 2018 Conferences
John McDermott and Rebecca Williams
The RBNZ recognised this, and we replaced the MCI with the Official Cash Rate (OCR) as the instrument of monetary policy in March 1999. ... Hunt C (2004), ‘Interpreting Clause 4(b) of the Policy Targets Agreement: Avoiding Unnecessary Instability in
https://www.rba.gov.au/publications/confs/2018/mcdermott-williams.html

Small Business Conditions and Finance

23 Sep 2015 Conferences PDF 4551KB
RBA Conference Volume 2015
https://www.rba.gov.au/publications/confs/2015/pdf/conf-vol-2015.pdf

The Welfare Effects of Alternative Choices of Instruments and Targets for Macroeconomic Stabilisation Policy

7 Dec 2006 Conferences PDF 463KB
RBA Conference Volume 1997
https://www.rba.gov.au/publications/confs/1997/pdf/quiggin.pdf

The Evolution of Financial Deregulation | Conference – 1991

21 Jun 1991 Conferences
Stephen Grenville
meant that even with the interest differential between market rates and the SRD rate rising, the implicit tax of SRD holdings did not increase);. ... The proximate operating objective became the cash rate, and the link between this and commercial rates
https://www.rba.gov.au/publications/confs/1991/grenville.html

On the Economics of Committed Liquidity Facilities

19 Dec 2013 Conferences PDF 823KB
RBA Conference Volume 2013
https://www.rba.gov.au/publications/confs/2013/pdf/bech-keister.pdf

News and Interest Rate Expectations: A Study of Six Central Banks

27 Nov 2006 Conferences PDF 206KB
RBA Conference Volume 2004
https://www.rba.gov.au/publications/confs/2004/pdf/connolly-kohler.pdf

The Objectives for, and Conduct of, Monetary Policy in the 1990s | Conference – 1992

21 Jun 1990 Conferences
Charles Goodhart
Moreover, an exchange rate target is more tangible and understandable than a number (how obtained) for some (how and why chosen) abstract ‘M’. ... Depending, therefore, in part on the degree of multilateralism involved, an exchange rate target can
https://www.rba.gov.au/publications/confs/1992/goodhart.html