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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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Recent Influences on the Competitive Environment | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector |…

6 Sep 2017 Submissions
They therefore developed a low-cost business model using securitisation funding and mobile lenders, which enabled them to undercut banks' mortgage rates (RBA 2014b). ... In the 1990s, the entry of foreign banks into the online deposit market saw a rise
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/recent-influences-on-the-competitive-environment.html

Assessing Competition in the Financial System | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector |…

6 Sep 2017 Submissions
Narrower measures of profitability, such as the spreads of lending rates to the cash rate, have shown divergent trends in recent years (Graph 14). ... While spreads on variable-rate home loans have been rising, once discounts are factored in, the rates
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/assessing-competition-in-the-financial-system.html

Handout and Supplementary Information Prepared for Standing Committee on Economics – September 2016 | Bank Fees and Margins | Submissions

22 Sep 2016 Submissions
Handout and Supplementary Information Prepared for Standing Committee on Economics – September 2016
https://www.rba.gov.au/publications/submissions/financial-sector/handout-standing-committee-on-economics-2016-09-22/

HANDOUT PREPARED FOR STANDING COMMITTEE ON ECONOMICS 22 SEPTEMBER 2016

21 Sep 2016 Submissions PDF 386KB
 The spread between banks’ mortgage rates and the cash rate declined significantly in the 1990s, but moved higher by nearly two percentage points following the global financial crisis (GFC). ... Reserve Bank of Australia 3.  Average interest
https://www.rba.gov.au/publications/submissions/financial-sector/handout-standing-committee-on-economics-2016-09-22/pdf/handout-standing-committee-on-economics-2016-09-22.pdf

List of tables | Submission to the Inquiry into Competition in the Banking and Non-Banking Sectors – August 2015 | Financial Sector |…

27 Aug 2015 Submissions
b) The higher rate applies if an account is deemed qualified (if spending on that account exceeds a card-specific threshold). ... India. Maximum INR20 (A$0.42). NA. Financial institutions must offer customers a number of fee-free cash withdrawals every
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-matters-relating-to-credit-card-interest-rates-2015-08/tables.html

Submission to the Senate Inquiry into Matters Relating to Credit Card Interest Rates - ATM Fees | Submission to the Inquiry into the…

27 Aug 2015 Submissions
Submission to the Senate Inquiry into Matters Relating to Credit Card Interest Rates. ... Cardholders also started to make greater use of eftpos cash-out at retailers, where there is generally no charge.
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-matters-relating-to-credit-card-interest-rates-2015-08/atm-fees.html

List of Graphs | Submission to the Inquiry into Competition in the Banking and Non-Banking Sectors – August 2015 | Financial Sector |…

27 Aug 2015 Submissions
Graph 14: Distribution of Credit Card Interest Rates. ... Graph 15: Advertised Interest Rates.
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-matters-relating-to-credit-card-interest-rates-2015-08/graphs.html

Submission to the Senate Inquiry into Matters Relating to Credit Card Interest Rates

14 Aug 2015 Submissions PDF 905KB
 Advertised rates on standard and lower-rate cards have been quite sticky in recent years,. ... preferential rates) was more than 50 basis points higher than the interchange rate applying to.
https://www.rba.gov.au/publications/submissions/financial-sector/pdf/inquiry-matters-relating-to-credit-card-interest-rates-2015-08.pdf

Submission to the Inquiry into Home Ownership - June 2015

15 Jul 2015 Submissions PDF 4844KB
Submission to the Inquiry into Home Ownership
https://www.rba.gov.au/publications/submissions/housing-and-housing-finance/inquiry-into-home-ownership/pdf/inquiry-into-home-ownership.pdf

Submission to the Inquiry into Development of the Commonwealth Performance Framework

18 Jun 2015 Submissions PDF 206KB
Inquiry into Development of the Commonwealth Performance Framework
https://www.rba.gov.au/publications/submissions/other/pdf/inquiry-development-of-commonwealth-performance-framework.pdf