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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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Box B: Recent Developments in Australia's Resource Exports

7 May 2009 SMP - May 2009 PDF 442KB
https://www.rba.gov.au/publications/smp/2009/may/pdf/box-b.pdf

Statement on Monetary Policy – November 2009

5 Nov 2009 SMP PDF 1011KB
Reserve Bank of Australia
https://www.rba.gov.au/publications/smp/2009/nov/pdf/1109.pdf

Statement on Monetary Policy - August 2008

7 Aug 2008 SMP PDF 581KB
Reserve Bank of Australia
https://www.rba.gov.au/publications/smp/2008/aug/pdf/0808.pdf

Domestic Economic Condition

10 Nov 2006 SMP – November 2006
Over recent months, auction clearance rates in Sydney and Melbourne have been lower than earlier in the year, possibly reflecting the increases in the cash rate in May and August. ... While this was significantly below the recorded growth rate in profits
https://www.rba.gov.au/publications/smp/2006/nov/dom-eco-cond.html

Domestic Financial Markets

10 Feb 2012 SMP – February 2012
Overnight index swap (OIS) rates now indicate an expectation that the Reserve Bank will reduce the cash rate to around 3 per cent later in the year. ... Most bank and non-bank lenders lowered their variable housing loan indicator rates in line with the
https://www.rba.gov.au/publications/smp/2012/feb/dom-fin-mkts.html

Price and Wage Developments

10 May 2009 SMP – May 2009
been significantly affected by reductions in the cash rate. ... Over the past half year, mortgage rates have fallen significantly as the cash rate has fallen, while average deposit rates have fallen by less, reflecting both the inertia in some (low-
https://www.rba.gov.au/publications/smp/2009/may/price-wage-dev.html

Statement on Monetary Policy - May 2015

27 Jul 2015 SMP - May 2015 PDF 1969KB
https://www.rba.gov.au/publications/smp/2015/may/pdf/0515.pdf

Domestic Financial Markets

1 Mar 2012 SMP – February 2012 PDF 724KB
https://www.rba.gov.au/publications/smp/2012/feb/pdf/dom-fin-mkts.pdf

Economic Outlook

10 May 2015 SMP – May 2015
The forecasts are conditioned on the assumption that the cash rate moves broadly in line with market pricing at the time of writing. ... The low level of interest rates and relatively strong population growth are expected to continue to support household
https://www.rba.gov.au/publications/smp/2015/may/eco-outlook.html

International and Foreign Exchange Markets

7 Feb 2006 SMP – February 2006
The Reserve Bank of New Zealand (RBNZ) continued its monetary tightening in 2005, raising the official cash rate by percentage point over the year, to 7.25 per cent, bringing the ... In addition, there appears to have been some diversion to New Zealand
https://www.rba.gov.au/publications/smp/2006/feb/intl-fx-mkts.html