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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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Bank Funding and the Recent Tightening of Monetary Policy

17 Apr 2024 Bulletin - April 2024 PDF 1208KB
https://www.rba.gov.au/publications/bulletin/2024/apr/pdf/bank-funding-and-the-recent-tightening-of-monetary-policy.pdf

The Future of Cash

15 Dec 2016 Bulletin – December 2016
Cassie Davies, Mary-Alice Doyle, Chay Fisher and Samual Nightingale
Australian consumers have increasingly been using electronic payment methods in preference to cash for their transactions. The overall demand for cash in Australia, however, remains strong. There is ongoing demand for cash for non-transaction
https://www.rba.gov.au/publications/bulletin/2016/dec/5.html

The Effects of Funding Costs and Risk on Banks' Lending Rates

10 Mar 2011 Bulletin – March 2011
Daniel Fabbro and Mark Hack
driver of the increase in banks' lending rates relative to the cash rate in recent years. ... been broadly offset by a decline in the spread to the cash rate on funding sources that have relatively fixed rates.
https://www.rba.gov.au/publications/bulletin/2011/mar/6.html

Consumer Sentiment Surveys

17 Dec 2015 Bulletin – December 2015
Jin Cong Wang and Laura Berger-Thomson
There are two main consumer sentiment surveys in Australia. The headline indices that summarise the survey results appear to provide relevant and timely information about economic developments, particularly around turning points. However, in some
https://www.rba.gov.au/publications/bulletin/2015/dec/1.html

Statement on Monetary Policy

10 Aug 2003 Bulletin – August 2003
event, subsequent developments tended to weaken that case further, so that the cash rate was again held unchanged at the July and August meetings. ... The Board's assessment at the time of its June meeting was that the balance of risks had shifted to a
https://www.rba.gov.au/publications/bulletin/2003/aug/1.html

The Transmission of Monetary Policy through Banks' Balance Sheets

10 Feb 2020 Conferences PDF 1946KB
RBA Conference Volume 2018
https://www.rba.gov.au/publications/confs/2018/pdf/rba-conference-volume-2018-brassil-cheshire-muscatello.pdf

Bulletin June Quarter 2020

24 Jun 2020 Bulletin - June 2020 PDF 5409KB
https://www.rba.gov.au/publications/bulletin/2020/jun/pdf/bulletin-2020-06.pdf

Statement on Monetary Policy

10 May 2005 Bulletin – May 2005
Statement on Monetary Policy-May 2005
https://www.rba.gov.au/publications/bulletin/2005/may/1.html

Bulletin March Quarter 2021

22 Mar 2021 Bulletin - March 2021 PDF 6101KB
https://www.rba.gov.au/publications/bulletin/2021/mar/pdf/bulletin-2021-03.pdf

Semi-Annual Statement on Monetary Policy

10 May 1999 Bulletin – May 1999
Short-term market interest rates had moved down to near the new cash rate target in anticipation of the policy announcement and subsequently remained near this level, consistent with the expectation ... The current level of the cash rate is similar to
https://www.rba.gov.au/publications/bulletin/1999/may/1.html