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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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Statement by Philip Lowe, Governor: Monetary Policy Decision

1 Nov 2022 Media Releases
Date. 1 November 2022. At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.85 per cent. ... Returning inflation to target requires a more sustainable balance between demand and supply.
https://www.rba.gov.au/media-releases/2022/mr-22-36.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

3 Aug 2021 Media Releases
maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent. ... The Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
https://www.rba.gov.au/media-releases/2021/mr-21-14.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

2 Jun 2020 Media Releases
At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
https://www.rba.gov.au/media-releases/2020/mr-20-15.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

7 Jul 2020 Media Releases
At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
https://www.rba.gov.au/media-releases/2020/mr-20-17.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

7 Dec 2021 Media Releases
maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. ... The Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
https://www.rba.gov.au/media-releases/2021/mr-21-29.html

Monetary Policy

21 Feb 2001 Media Release PDF 80KB
STATEMENT BY THE GOVERNOR, MR IAN MACFARLANE. MONETARY POLICY. Following a decision made by the Board at its meeting yesterday, the Bank will beraising the cash rate target by 25 basis ... While the bulk of this rise reflected a return to morenormal
https://www.rba.gov.au/media-releases/2000/pdf/mr-00-11.pdf

Statement by Philip Lowe, Governor: Monetary Policy Decision

19 Mar 2020 Media Releases
The coronavirus is first and foremost a public health issue, but it is also having a very major impact on the economy and the financial system.
https://www.rba.gov.au/media-releases/2020/mr-20-08.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

6 Oct 2020 Media Releases
Date. 6 October 2020. At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate, the yield on 3-year Australian Government ... It will maintain highly accommodative policy settings as long as
https://www.rba.gov.au/media-releases/2020/mr-20-24.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

5 Oct 2021 Media Releases
maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. ... It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
https://www.rba.gov.au/media-releases/2021/mr-21-22.html

Statement by Philip Lowe, Governor: Monetary Policy Decision

6 Jul 2021 Media Releases
maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent. ... It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
https://www.rba.gov.au/media-releases/2021/mr-21-13.html