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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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Financial Conditions

6 Feb 2024 SMP – February 2024
Financial Conditions | Statement on Monetary Policy – February 2024
https://www.rba.gov.au/publications/smp/2024/feb/financial-conditions.html

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

Operations in Financial Markets

12 Apr 2020 RBA Annual Report – 2020
The cash rate is the interest rate on unsecured overnight loans between banks. ... at an interest rate of 25 basis points above the cash rate target.
https://www.rba.gov.au/publications/annual-reports/rba/2020/operations-in-financial-markets.html

Our People

27 Oct 2022 RBA Annual Report – October 2022
Due to the tightening of the labour market, the resignation rate increased from 7.7 per cent in 2020/21 to 13.1 per cent in 2021/22. ... This gap continues to be explained by a larger proportion of women occupying less senior roles compared with men.
https://www.rba.gov.au/publications/annual-reports/rba/2022/our-people.html

Operations in Financial Markets

30 Jun 1997 RBA Annual Report – 1997
The Bank's high degree of control over the cash rate (see following box) gives it the ability to influence the short end of the yield curve and interest rates charged ... of exchange settlement funds; in the process, they will bid up the cash rate.
https://www.rba.gov.au/publications/annual-reports/rba/1997/operation-financial.html

Banknotes

21 Oct 2021 RBA Annual Report – 2021
Subdued issuance of low-value banknotes since July 2020 can be explained by the decline in the use of cash as a means of payment. ... Sources: RBA. The Bank also surveyed retail businesses about their acceptance of cash.
https://www.rba.gov.au/publications/annual-reports/rba/2021/banknotes.html

Banking and Payment Services

21 Oct 2021 RBA Annual Report – 2021
These services include direct entry, RTGS, BPAY, cheque, eftpos, cash, NPP and card-based services via phone and internet. ... For 2020/21, the Bank achieved its competitive neutrality target rate of return.
https://www.rba.gov.au/publications/annual-reports/rba/2021/banking-and-payment-services.html

Earnings, Distribution and Capital

21 Oct 2021 RBA Annual Report – 2021
The interest rate on ES balances moves with the cash rate target, meaning that the Bank's net interest earnings are now exposed to a rise in the ES rate. ... This is because a future increase in the cash rate would result in the Bank paying a higher rate
https://www.rba.gov.au/publications/annual-reports/rba/2021/earnings-distribution-and-capital.html

Economic Outlook

8 May 2020 SMP – May 2020
The cash rate and other elements of the Bank's monetary stimulus package are assumed to remain around current settings. ... 3). (3). (a) The cash rate is assumed to remain at its current level, with other elements of the Bank's monetary stimulus package,
https://www.rba.gov.au/publications/smp/2020/may/economic-outlook.html

Domestic Financial Markets

10 Feb 2018 SMP – February 2018
Financial market prices suggest that the cash rate is expected to increase by early next year. ... Expectations of an increase in the cash rate have been brought forward a little.
https://www.rba.gov.au/publications/smp/2018/feb/domestic-financial-markets.html