Search: cash rate target

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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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What Works Among Active Labour Market Policies: Evidence from OECD Countries' Experiences | Conference – 1998

9 Jun 1998 Conferences
John P. Martin
The replacement rates are for the first month of unemployment, after waiting periods have been satisfied. ... The most direct step to curb the unemployment trap is to cut replacement rates.
https://www.rba.gov.au/publications/confs/1998/martin.html

Opening Aladdin's Cave: Unpacking the Factors Impacting on Small Businesses | Conference – 2015

19 Mar 2015 Conferences
Scott Holmes and Dhruba Gupta
Accordingly, any initiatives or policies to address particular issues need to be clearly linked to the target group. ... 28%. 42%. 18%. 8%. 4%. Economic uncertainty. General (consumer confidence, business confidence, inflation, interest rates etc).
https://www.rba.gov.au/publications/confs/2015/holmes-gupta.html

Australia's Prosperous 2000s: Housing and the Mining Boom | Conference – 2011

24 Jul 2000 Conferences
Jonathan Kearns and Philip Lowe
The cash rate reached 7.25 per cent in early 2008, its highest level in over a decade. ... Throughout the 2000s, there was broad community and political support for the key elements of the framework which include: (i) a medium-term inflation target; (ii)
https://www.rba.gov.au/publications/confs/2011/kearns-lowe.html

Restructuring and Reform: China 2016 | Conference – 2016

18 Mar 2016 Conferences
Barry Naughton
than the 9.5 per cent growth rate of all service sector firms’ (trans by author). ... Coal and steel production have been earmarked as the first targets for reduction in capacity.
https://www.rba.gov.au/publications/confs/2016/naughton.html

Exploring the Link between the Macroeconomic and Financial Cycles | Conference – 2017

16 Mar 2017 Conferences
Adam Cagliarini and Fiona Price
rate; and the macroeconomic variables are gross domestic product (GDP), employment and the unemployment rate. ... This method has the advantage of being able to estimate classical cycles, rather than cycles in growth rates.
https://www.rba.gov.au/publications/confs/2017/cagliarini-price.html

The Rise in US Household Indebtedness: Causes and Consequences | Conference – 2007

20 Aug 2007 Conferences
Karen E Dynan and Donald L Kohn
Thus, the average interest rate on household debt responds gradually to shifts in market rates. ... Sub-prime delinquency rates fell to multi-year lows in mid 2005 amid a robust housing market but then began to rise, particularly those for variable-rate
https://www.rba.gov.au/publications/confs/2007/dynan-kohn.html

Central Bank Liquidity Provision and Core Funding Markets | Conference – 2013

19 Aug 2013 Conferences
Grahame Johnson and Eric Santor
Securities lending. While relatively small in size, securities lending markets facilitate a range of financing activities for both the cash and repo markets. ... It was designed to target distortions of system-wide importance (a sharp and broad-based
https://www.rba.gov.au/publications/confs/2013/johnson-santor.html

Setting Monetary Policy in East Asia: Goals, Developments and Institutions | Conference – 2001

24 Jul 2001 Conferences
Robert N McCauley
b) The US Federal Reserve first raised the Federal Funds target rate in June 1999 and tightened in five further steps through to May 2000. ... The adoption of the official cash rate regime has been associated with a small dampening of interest-rate
https://www.rba.gov.au/publications/confs/2001/mccauley.html

The Australian Government's Current Approach to Monetary Policy: An Evaluation | Conference – 1997

21 Jul 1997 Conferences
Peter J. Stemp
procedures that focused on the cash rate as the primary operating instrument of monetary policy and the adoption of the so-called ‘check-list’ or ‘indicators’ approach. ... In a world of flexible exchange rates and limited impediments to
https://www.rba.gov.au/publications/confs/1997/stemp.html

Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit | Conference – 2012

20 Aug 2012 Conferences
Kenneth Kuttner and Ilhyock Shim
Most of the short-term interest rate series, i. s. , are the money market interest rates from the IFS database. ... These short-term interest rates tend to move closely with the policy rate, while long-term lending rates may only indirectly reflect
https://www.rba.gov.au/publications/confs/2012/kuttner-shim.html