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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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Data Construction Appendix

1 Jun 1986 RDP 8607
Warren J. Tease
In the paper, these yields are expressed as quarterly rates in percentage points. ... R. t. – yield on 180-day bank-accepted bill at end of week t.
https://www.rba.gov.au/publications/rdp/1986/8607/appendix.html

The Model and Empirical Evidence

1 Jun 1986 RDP 8607
Warren J. Tease
Equation (5) states that the expected one-period holding-period yield on a two-period bill equals the current one-period bill rate plus a risk premium. ... In a similar study shiller, Campbell and Schoenholtz (1983) regressed the change in the three
https://www.rba.gov.au/publications/rdp/1986/8607/model-and-empirical-evidence.html

Data, Estimation and Results

1 Jun 1986 RDP 8607
Warren J. Tease
The first encompassed the period of managed exchange rates while the second encompassed the floating exchange rate period. ... The implicit forward rate, for instance, would remain an unbiased (but less precise) predictor of future spot interest rates.
https://www.rba.gov.au/publications/rdp/1986/8607/data-estimation-and-results.html