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1 Jul 2019
RDP
2019-05
Trent Saunders and Peter Tulip
The optimal control scenario sets interest rates so as to minimise the squared deviations of inflation from its target, the unemployment rate from the NAIRU, and squared changes in the policy ... to the higher cash rate, before it gradually returns to
https://www.rba.gov.au/publications/rdp/2019/2019-05/full.html
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12 Apr 2018
Conferences
Luke Hartigan and James Morley
Interestingly, recursive estimates of factor loadings for real gross domestic product (GDP) growth, CPI inflation, and the overnight cash rate (OCR) suggest a stabilisation rather than an abrupt change with the ... Δlog(x. t. ). No. Overnight cash rate
https://www.rba.gov.au/publications/confs/2018/hartigan-morley.html
26 Jul 2021
RDP
2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
Comparing the middle and bottom panels makes clear that mortgage rates move fairly closely with the cash rate. ... given that the cash rate is a very strong determinant of mortgage rates.
https://www.rba.gov.au/publications/rdp/2021/2021-07/full.html
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21 Jul 1997
Conferences
Figure 3 shows four-quarter moving averages of the real cash rate both on the RBA method and using contemporaneous quarterly deflation.) One wonders what the monetary policy-makers thought they ... This is one of the reasons why the Bank made such heavy
https://www.rba.gov.au/publications/confs/1997/hughes-disc.html
20 Jan 2021
RDP
2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
Heightened demand for high-quality collateral is evident from the interest rate differential on collateralised loans across collateral types – rates for first-best collateral fall market-wide by over 100 basis ... In the unsecured market, the overnight
https://www.rba.gov.au/publications/rdp/2021/2021-01/full.html
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19 Aug 2013
Conferences
Morten L Bech and Todd Keister
In both facilities, the up-front fee is lower than the spread between the rate for the central bank's standing lending facility and the target for the overnight rate. ... T]his outcome would also significantly affect the ability to meet the cash rate
https://www.rba.gov.au/publications/confs/2013/bech-keister.html
31 Aug 2021
RDP
2021-09
James Bishop and Emma Greenland
These findings have important implications for policy. According to the RBA Board (RBA 2021a), the cash rate will not be raised until inflation is sustainably within the 2 to 3 per ... For example, in response to a persistent negative supply shock a
https://www.rba.gov.au/publications/rdp/2021/2021-09/full.html
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14 Jul 2008
Conferences
Spence Hilton
banks can borrow or lend with the central bank – ensure as best they can that expectations for rates on future days in the maintenance period are around the target rate. ... deficient, which according to the preceding description of rate determination
https://www.rba.gov.au/publications/confs/2008/hilton.html
21 Jun 1991
Conferences
Stephen Grenville
meant that even with the interest differential between market rates and the SRD rate rising, the implicit tax of SRD holdings did not increase);. ... The proximate operating objective became the cash rate, and the link between this and commercial rates
https://www.rba.gov.au/publications/confs/1991/grenville.html
31 Jan 2023
RDP
2023-01
Tom Cusbert
Figure 3: Effect of Lower Rates on Housing Demand. Mortgage rate lowered from 6.5 per cent to 4.5 per cent. ... The response of WTP to a change in interest rate is little changed across the spectrum of subjective discount rates.
https://www.rba.gov.au/publications/rdp/2023/2023-01/full.html
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