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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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Developments in Banks' Funding Costs and Lending Rates

19 Mar 2020 Bulletin – March 2020
Susan Black, Dmitry Titkov and Lydia Wang
Banks’ funding costs declined over 2019, driven by reductions in the cash rate.
https://www.rba.gov.au/publications/bulletin/2020/mar/developments-in-banks-funding-costs-and-lending-rates.html

The Reserve Bank's Open Market Operations

10 Jun 2003 Bulletin – June 2003
The cash rate is determined in the interbank market for unsecured overnight loans. ... The use of market rates to evaluate bids/offers at different maturities ensures that the Reserve Bank's own views about the forward path of the target cash rate have
https://www.rba.gov.au/publications/bulletin/2003/jun/1.html

Appendix D: Glossary and Data

1 Jun 2000 RDP 2000-05
Meredith Beechey, Nargis Bharucha, Adam Cagliarini, David Gruen and Christopher Thompson
π. t. three-year average of past inflation. r. t. real cash rate, defined as r. ... i. t. nominal cash rate. u. t. unit labour costs. y.
https://www.rba.gov.au/publications/rdp/2000/2000-05/appendix-d.html
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Appendix D: Data Sources and Definitions

31 Dec 2003 RDP 2003-12
Tim Robinson, Andrew Stone and Marileze van Zyl
The nominal cash rate is the quarter average of monthly data for the interbank overnight rate, for the period from July 1998 onwards, and for the 11am call rate, up to ... Constructed from RBA Bulletin Table ‘Advances Classified by Interest Rates’
https://www.rba.gov.au/publications/rdp/2003/2003-12/appendix-d.html
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Monetary Policy, Equity Markets and the Information Effect

23 Mar 2021 RDP 2021-04
Calvin He
Consistent with standard models, unexpected increases in the cash rate cause equity prices to fall (Figure 3). ... The absolute value of the effect is much smaller when using the cash rate as the independent variable.
https://www.rba.gov.au/publications/rdp/2021/2021-04/full.html
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Appendix B: Steady State

31 Dec 2013 RDP 2013-07
Sean Langcake and Tim Robinson
We log-linearise around a deterministic steady state where the real exchange rate,. , ... Domestic goods gross rental rate. Tobin's Q in steady state is 1.
https://www.rba.gov.au/publications/rdp/2013/2013-07/appendix-b.html
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Interest Rate Benchmarks for the Australian Dollar

20 Sep 2018 Bulletin – September 2018
Serena Alim and Ellis Connolly
Interest rate benchmarks are widely relied upon in global financial markets. They are referenced in contracts for derivatives, loans and securities.
https://www.rba.gov.au/publications/bulletin/2018/sep/interest-rate-benchmarks-for-the-australian-dollar.html

Extracting Information from Financial Market Instruments

10 Mar 2012 Bulletin – March 2012
Richard Finlay and David Olivan
OIS rates nonetheless provide a useful and simple source of data for estimating cash rate expectations out to one year. ... Financial markets provide a significant amount of information about expectations of the cash rate, risk-free rates and inflation.
https://www.rba.gov.au/publications/bulletin/2012/mar/6.html

Appendix D: Glossary and Data

31 Dec 2005 RDP 2005-11
Andrew Stone, Troy Wheatley and Louise Wilkinson
s. De-trended real share accumulation index. i. Nominal cash rate. Neutral real cash rate. ... y. Real non-farm output. r. Real cash rate. p. m,trf. Tariff-adjusted import prices, measured in Australian dollars.
https://www.rba.gov.au/publications/rdp/2005/2005-11/appendix-d.html
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Developments in Banks' Funding Costs and Lending Rates

16 Mar 2017 Bulletin – March 2017
Belinda Cheung
This article updates previous Reserve Bank research on the ways in which developments in the composition and pricing of banks' debt funding have affected their overall cost of funds and influenced lending rates. Major banks' outstanding funding
https://www.rba.gov.au/publications/bulletin/2017/mar/5.html