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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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Price and Wage Developments

10 May 2009 SMP – May 2009
been significantly affected by reductions in the cash rate. ... Over the past half year, mortgage rates have fallen significantly as the cash rate has fallen, while average deposit rates have fallen by less, reflecting both the inertia in some (low-
https://www.rba.gov.au/publications/smp/2009/may/price-wage-dev.html

Optimal Automatic Stabilizers

17 Jan 2017 Research Workshop PDF 592KB
https://www.rba.gov.au/publications/workshops/research/2016/pdf/rba-workshop-2016-mckay.pdf

Segmented Housing Search

12 Dec 2013 Research Workshop PDF 3290KB
Reserve Bank of Australia Workshop 2013
https://www.rba.gov.au/publications/workshops/research/2013/pdf/piazzesi-schneider-stroebel.pdf

Exchange Rate Policies at the Zero Lower Bound

4 Jan 2018 Research Workshop PDF 1012KB
https://www.rba.gov.au/publications/workshops/research/2017/pdf/rba-workshop-2017-javier-bianchi.pdf

Economic Outlook

10 May 2015 SMP – May 2015
The forecasts are conditioned on the assumption that the cash rate moves broadly in line with market pricing at the time of writing. ... The low level of interest rates and relatively strong population growth are expected to continue to support household
https://www.rba.gov.au/publications/smp/2015/may/eco-outlook.html

International and Foreign Exchange Markets

7 Feb 2006 SMP – February 2006
The Reserve Bank of New Zealand (RBNZ) continued its monetary tightening in 2005, raising the official cash rate by percentage point over the year, to 7.25 per cent, bringing the ... In addition, there appears to have been some diversion to New Zealand
https://www.rba.gov.au/publications/smp/2006/feb/intl-fx-mkts.html

In Brief: Statement on Monetary Policy – February 2024

6 Feb 2024 SMP
The Boards interest rate decision supports the gradual return of inflation to the midpoint of our 2–3 per cent target range. ... More on the February 2024 monetary policy decision. The Board decided to leave the cash rate target unchanged at 4.35 per
https://www.rba.gov.au/publications/smp/2024/feb/

In Brief: Statement on Monetary Policy – May 2024

7 May 2024 SMP
The Boards decision to hold the cash rate supports inflation returning to target. ... Keeping the cash rate at the current level is important to reduce inflationary pressures.
https://www.rba.gov.au/publications/smp/2024/may/

Overview

7 May 2024 SMP – May 2024
Overview | Statement on Monetary Policy – May 2024
https://www.rba.gov.au/publications/smp/2024/may/overview.html

Domestic Financial Conditions

10 Feb 2023 SMP – February 2023
In turn, BBSW rates were driven by both actual and expected increases in the cash rate. ... variable reference rates (and hence the cash rate) up to December (the latest available data) (Table 3.2).
https://www.rba.gov.au/publications/smp/2023/feb/domestic-financial-conditions.html