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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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3 October 2023 | Minutes of the Monetary Policy Meeting of the Board

17 Oct 2023 Minutes
Minutes of the monetary policy meeting of the Reserve Bank Board for 3 October 2023
https://www.rba.gov.au/monetary-policy/rba-board-minutes/2023/2023-10-03.html

An Empirical Model of Australian Interest Rates, Exchange Rates and Monetary Policy

19 Nov 2012 RDP PDF 729KB
18. Table 1 Variance Decompositions. Percentage of Unofficial Cash Rate Explained by Shock to. ... October 1987 period. However, shocks to cash rates have had. very little discernible effect on the exchange rate.
https://www.rba.gov.au/publications/rdp/1990/pdf/rdp9009.pdf

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

Operations in Financial Markets

17 Oct 2019 RBA Annual Report – 2019
at an interest rate of 25 basis points above the cash rate target. ... The Reserve Bank is the administrator of the cash rate, which is the operational target for monetary policy.
https://www.rba.gov.au/publications/annual-reports/rba/2019/operations-in-financial-markets.html

2023 | Monetary Policy Decisions

5 Dec 2023
Monetary Policy media releases - statements made by the Governor on monetary policy
https://www.rba.gov.au/monetary-policy/int-rate-decisions/2023/

Review of the Bond Purchase Program

9 Mar 2023
including cuts to the cash rate target, three-year yield target and Term Funding Facility (TFF) rates to 0.1 per cent. ... However, the maturities of affected interest rates will be different compared with a conventional policy easing via the cash rate.
https://www.rba.gov.au/monetary-policy/reviews/bond-purchase-program/index.html

The Cost of Inflation in Australia | Conference – 1992

10 Jul 1992 Conferences
Doug McTaggart
In addition, because housing loan interest costs are not deductible, and because nominal housing loan rates might rise in excess of the rate inflation due to the tax-adjusted Fisher effect ... Suppose borrowers and lenders face different marginal tax
https://www.rba.gov.au/publications/confs/1992/mctaggart.html

Policymaking at the Reserve Bank

18 Oct 2022 Speech
Michele Bullock
Speech delivered by Michele Bullock, Deputy Governor, AFIA Annual Conference, Sydney
https://www.rba.gov.au/speeches/2022/sp-dg-2022-10-18.html

2010 | Interest Rate Decisions

9 Mar 2023
Monetary Policy media releases - statements made by the Governor on monetary policy
https://www.rba.gov.au/monetary-policy/int-rate-decisions/2010/

Evaluating Simple Monetary-policy Rules for Australia | Conference – 1997

21 Jul 1997 Conferences
Gordon de Brouwer and James O'Regan
2.53. Δ cash rate. 0.73. 0.91. 1.06. 1.32. 1.71. Autocorrelation (1). ... Δ cash rate. 0.73. 0.29. 0.39. 0.50. 0.60. Autocorrelation (2). 0.65.
https://www.rba.gov.au/publications/confs/1997/de-brouwer-oregan.html