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RBA Glossary definition for bill rate
bill rate – The bill rate is the effective yield to maturity earned by the holder of a bill. The yield is usually expressed as a per annum rate.
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Appendix: RBII Specification
1 Nov 1984
RDP
8403
bl. dummy variable for increases in commercial bill rate 1974. Qr. ... bl. interest rate on 90 day commercial bills. r. eu. interest rate on 90 day Eurodollar bills.
https://www.rba.gov.au/publications/rdp/1984/8403/appendix.html
The Money Market
1 Nov 1984
RDP
8403
b. , and the bill rate, r. b1. , rather than only on the bond rate. ... In the current exercise, it has been assumed that money demand is homogeneous of degree zero in all interest rates (the own rate, and bond and bill rates) together.
https://www.rba.gov.au/publications/rdp/1984/8403/the-money-market.html