Search: cash rate target

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RBA Glossary definition for cash rate target

cash rate target – As in most developed countries, the stance of monetary policy in Australia is expressed in terms of a target for an overnight interest rate. The rate used by the Reserve Bank of Australia is the cash rate (also known as the interbank overnight rate). When the Reserve Bank Board decides that a change in monetary policy should occur, it specifies a new target for the cash rate. A decision to ease policy is reflected in a new lower target for the cash rate, while a decision to tighten policy is reflected in a higher target.

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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Statement on Monetary Policy

10 May 2002 Bulletin – May 2002
Maintaining the cash rate at such a low level risked amplifying inflationary risks and fuelling other imbalances that could jeopardise a continuation of the current economic expansion. ... With inflation now towards the top end of the Reserve Bank of New
https://www.rba.gov.au/publications/bulletin/2002/may/1.html

Statement on Monetary Policy

10 Feb 2002 Bulletin – February 2002
This easing continued in December, when the cash rate was reduced to its lowest level in almost 30 years, bringing the cumulative reduction in the cash rate to 200 basis points. ... The RBNZ reduced the official cash rate by a further 50 basis points in
https://www.rba.gov.au/publications/bulletin/2002/feb/1.html

Semi-Annual Statement on Monetary Policy

10 May 1998 Bulletin – May 1998
At 5.6 per cent, the yield on 10-year US bonds is barely above the US cash rate – i.e. ... This is because arbitrage by market participants works to ensure that three-month interest rates reflect the expected average cash rate over that period.
https://www.rba.gov.au/publications/bulletin/1998/may/2.html

2016

6 Oct 2022 Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2016/

Semi-Annual Statement on Monetary Policy

10 May 1997 Bulletin – May 1997
The impact of those cash rate reductions on home mortgage borrowers has been reinforced by a significant compression of intermediaries' interest margins in that area. ... The Bank's assessment is that the current level of cash rates is accommodating the
https://www.rba.gov.au/publications/bulletin/1997/may/1.html

The Committed Liquidity Facility: 2015–2022

25 Jan 2024 Bulletin – January 2024
Fabio Rustia, Carl Schwartz and Nick Stenner
The Reserve Bank’s Committed Liquidity Facility (CLF) was used from 2015 to 2022 to enhance the resilience of the banking system to times of liquidity stress.
https://www.rba.gov.au/publications/bulletin/2024/jan/the-committed-liquidity-facility-2015-2022.html

March | 2017

16 Mar 2017 Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2017/mar/

The Private Equity Market in Australia

18 Apr 2024 Bulletin – April 2024
Jacob Harris and Emma Chow
The Australian private equity market has grown significantly for a number of years, particularly as the economy recovered from pandemic-related disruptions.
https://www.rba.gov.au/publications/bulletin/2024/apr/the-private-equity-market-in-australia.html

Semi-Annual Statement on Monetary Policy

10 May 1999 Bulletin – May 1999
Short-term market interest rates had moved down to near the new cash rate target in anticipation of the policy announcement and subsequently remained near this level, consistent with the expectation ... The current level of the cash rate is similar to
https://www.rba.gov.au/publications/bulletin/1999/may/1.html

Statement on Monetary Policy

10 Nov 2002 Bulletin – November 2002
But looking further ahead, the prospect is that CPI inflation will converge towards the underlying rate and hence will be within the target range. ... Graph 6. In the US, the Federal Open Market Committee (FOMC) kept the policy rate unchanged at 1.75 per
https://www.rba.gov.au/publications/bulletin/2002/nov/1.html