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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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2024 | Monetary Policy Decisions

7 May 2024
Monetary Policy media releases - statements made by the Governor on monetary policy
https://www.rba.gov.au/monetary-policy/int-rate-decisions/2024/

Changes to Statistical Tables

7 May 2024 Statistics
Further details on the use of Expert Judgement can be found in the Cash Rate Procedures Manual. ... From 6 May 2020, Table F1 will provide additional detail on when and how Expert Judgement is used to determine the Interbank Overnight Cash Rate.
https://www.rba.gov.au/statistics/tables/changes-to-tables.html

Reserve Bank of Australia Annual Report 2023

1 May 2024 RBA Annual Report - 2023 PDF 9575KB
https://www.rba.gov.au/publications/annual-reports/rba/2023/pdf/rba-annual-report-2023.pdf

Bank Funding and the Recent Tightening of Monetary Policy

18 Apr 2024 Bulletin – April 2024
Venura De Zoysa, Jessica Dunphy and Christopher Schwartz
Banks’ funding costs have risen substantially since early 2022, driven by increases in the cash rate.
https://www.rba.gov.au/publications/bulletin/2024/apr/bank-funding-and-the-recent-tightening-of-monetary-policy.html

Bulletin

17 Apr 2024 Bulletin - April 2024 PDF 7253KB
https://www.rba.gov.au/publications/bulletin/2024/apr/pdf/bulletin-2024-04.pdf

Bank Funding and the Recent Tightening of Monetary Policy

17 Apr 2024 Bulletin - April 2024 PDF 1208KB
https://www.rba.gov.au/publications/bulletin/2024/apr/pdf/bank-funding-and-the-recent-tightening-of-monetary-policy.pdf

The COVID-19 Pandemic: 2020 to 2021

16 Apr 2024 PDF 552KB
22 February: First COVID vaccine doses are administered. 3 March: Cash rate target lowered to 0.5%. ... 3 November: Cash rate target reduced to 0.1% and bond purchase program announced.
https://www.rba.gov.au/education/resources/explainers/pdf/the-covid-19-pandemic-2020-to-2021.pdf

The COVID-19 Pandemic: 2020 to 2021 | Explainer | Education

16 Apr 2024
This series provides short, concise explanations for various economics topics.
https://www.rba.gov.au/education/resources/explainers/the-covid-19-pandemic-2020-to-2021.html

The Future System for Monetary Policy Implementation - Consultation Paper - April 2024

15 Apr 2024 Consultations PDF 720KB
In this way, the price of OMO repo provides a guide for the cash rate and broader short-term market rates. ... An ample system under full allotment OMO can provide an effective anchor for the cash rate, money market rates and financial conditions more
https://www.rba.gov.au/publications/consultations/202404-future-system-for-monetary-policy-implementation-in-australia/pdf/202404-the-future-system-for-monetary-policy-implementation-in-australia.pdf

How the Reserve Bank Implements Monetary Policy | Explainer | Education

2 Apr 2024
This series provides short, concise explanations for various economics topics.
https://www.rba.gov.au/education/resources/explainers/how-rba-implements-monetary-policy.html