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RBA Glossary definition for interest rate

interest rate – The term used to describe the cost of borrowing money or the return to the owner of the funds which are invested or lent out. It is usually expressed as a percent per annum of the amount of money borrowed, lent or invested.

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Demand in the Repo Market: Indirect Perspectives from Open Market Operations from 2006 to 2020

15 May 2024 RDP 2024-03
Chris Becker, Anny Francis, Calebe de Roure and Brendan Wilson
Research Discussion Paper – RDP 2024-03 Demand in the Repo Market: Indirect Perspectives from Open Market Operations from 2006 to 2020. Chris Becker, Anny Francis, Calebe de Roure and Brendan Wilson. May 2024. Download the Paper 4.51. MB.
https://www.rba.gov.au/publications/rdp/2024/2024-03.html

Valuing Safety and Privacy in Retail Central Bank Digital Currency

11 Apr 2024 RDP 2024-02
Zan Fairweather, Denzil Fiebig, Adam Gorajek, Rochelle Guttmann, June Ma and Jack Mulqueeney
2023) and increased web search interest for banking stress topics in Australia (Figure 3, top panel). ... Figure 3: Web Search Interest in Australia. October 2017 to September 2022 average = 100.
https://www.rba.gov.au/publications/rdp/2024/2024-02/full.html
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Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
policy is constrained by the effective lower bound on interest rates and therefore cannot offset economic downturns. ... As such, it might appear that higher interest rates lead to more innovation when both are moving with economic conditions.
https://www.rba.gov.au/publications/rdp/2024/2024-01/full.html
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Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE

22 Dec 2023 RDP 2023-09
nmbi: non-mining business investment – ABS national accounts. btcs: Beckers (2020) shock measure, not accounting for cash rate expectations. ... cr: cash rate changes – RBA statistical table F1.1 Interest Rates and Yields – Money Market – Monthly.
https://www.rba.gov.au/publications/rdp/2023/2023-09/read-me.html

Data

21 Dec 2023 RDP 2023-10
Kim Nguyen and Jonathan Hambur
We look for mentions of words related to each of the technologies of interest in the text. ... We experimented with constructing a panel using names in company reports and work histories in S&P Capital IQ, but the match rate was too low.
https://www.rba.gov.au/publications/rdp/2023/2023-10/data.html
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Introduction

19 Dec 2023 RDP 2023-09
The key theoretical channels are well documented. A reduction of the policy interest rate stimulates investment by: increasing aggregate demand; lowering the cost of investment (e.g. ... investment. Indeed, a negative relationship between investment and
https://www.rba.gov.au/publications/rdp/2023/2023-09/introduction.html

References

19 Dec 2023 RDP 2023-09
Hambur J and G La Cava (2018), ‘Do Interest Rates Affect Business Investment? ... Lane K and T Rosewall (2015), ‘Firms' Invesment Decisions and Interest Rates’, RBA Bulletin, June, pp 1–7.
https://www.rba.gov.au/publications/rdp/2023/2023-09/references.html

Non-technical summary for ‘Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE’

19 Dec 2023 RDP 2023-09
Young and old firms have a similar response to changes in interest rates. ... Increases in interest rates cause firms to lower the amount of investment they expect to do in the future.
https://www.rba.gov.au/publications/rdp/2023/2023-09/non-technical-summary.html

Results with Tax Data on Actual Investment

19 Dec 2023 RDP 2023-09
For example, survey evidence suggests that firms' hurdle rates do not respond to interest rate changes (Lane and Rosewall 2015; Edwards and Lane 2021). ... It could also be the case that the surveyed and actual responses differ or that hurdle rates do
https://www.rba.gov.au/publications/rdp/2023/2023-09/results-with-tax-data-on-actual-investment.html

Methodology

19 Dec 2023 RDP 2023-09
This is important given the variable of interest is the same across all firms for a given period (Cameron and Miller 2015). ... bond spreads, option-implied volatility). The shocks are then constructed as the deviation of the actual policy rate from that
https://www.rba.gov.au/publications/rdp/2023/2023-09/methodology.html