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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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Review of the RBA's Approach to Forward Guidance

14 Nov 2022 PDF 550KB
dislocation.) A speech by the Governor added that the conditions on the cash rate ‘means that we are likely to be at this level of interest rates for an extended period’. ... In November 2021, conditions for a rise in the cash rate were explained as
https://www.rba.gov.au/monetary-policy/reviews/approach-to-forward-guidance/pdf/review-of-the-rbas-approach-to-forward-guidance.pdf

Policymaking at the Reserve Bank

18 Oct 2022 Speech PDF 489KB
Speech - 2022
https://www.rba.gov.au/speeches/2022/pdf/sp-dg-2022-10-18.pdf

Reserve Bank of Australia Annual Report 2021

29 Sep 2022 RBA Annual Report 2021 PDF 6721KB
https://www.rba.gov.au/publications/annual-reports/rba/2021/pdf/2021-report.pdf

Bulletin September Quarter 2021

22 Aug 2022 Bulletin - September 2021 PDF 8022KB
https://www.rba.gov.au/publications/bulletin/2021/sep/pdf/bulletin-2021-09.pdf

The Yield and Market Function Effects of the Reserve Bank of Australia’s Bond Purchases

19 May 2022 RDP PDF 1938KB
AGS yields to term-matched overnight indexed swap (OIS) rates.10 The cash rate target was reduced. ... the expected average overnight cash rate over the term of the OIS contract.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-02.pdf

Project Dunbar Report

21 Mar 2022 PDF 4830KB
However, although reliance on correspondent banks is reduced, it might not be fully eliminated to the extent that correspondent banks are needed for onboarding and transaction approvals – as explained in Section
https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/pdf/project-dunbar-report-2022-03.pdf

Australian Money Markets Through the COVID-19 Pandemic

16 Mar 2022 Bulletin - March 2022 PDF 1180KB
https://www.rba.gov.au/publications/bulletin/2022/mar/pdf/australian-money-markets-through-the-covid-19-pandemic.pdf

Are First Home Buyer Loans More Risky?

16 Mar 2022 Bulletin - March 2022 PDF 865KB
https://www.rba.gov.au/publications/bulletin/2022/mar/pdf/are-first-home-buyer-loans-more-risky.pdf

MARTIN Gets a Bank Account: Adding a Banking Sector to the RBA’s Macroeconometric Model

12 Jan 2022 RDP PDF 1774KB
Suthakar 2021; Hack and Nicholls 2021). With deposit rates unable to move below zero, cash rate. ... components: changes in the cash rate, changes in banks’ debt/deposit funding spreads and.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-01.pdf

The RBA and the Australian Economy

16 Dec 2021 Speech PDF 367KB
At some point in the future, interest rates will increase from these record lows. ... range. We are still a fair way from thatpoint. In our central scenario, the condition for an increase in the cash rate will not be met next year.It is likely
https://www.rba.gov.au/speeches/2021/pdf/sp-gov-2021-12-16.pdf