Official cash rate

About

Thing
The official cash rate is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the homogeneous central bank charges on overnight loans between commercial banks.
Official cash rate
Definition
The official cash rate is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the homogeneous central bank charges on overnight loans between commercial banks.
Official cash rate
Official cash rate
The official cash rate is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the homogeneous central bank charges on overnight loans between commercial banks.

Mentions

Faced with a slowing economy, the Reserve Bank of Australia reduced rates thrice last year, bringing the cash rate to a record low of 0.75%. The central bank is expected to keep the rate on hold on Tuesday, according to a Reuters poll.

The stronger than expected labour market figures for the fourth quarter released on Wednesday have made it a done deal that the Reserve Bank will leave the Official Cash Rate unchanged at next week's review.

It might have surprised markets in a technical sense but the Reserve Bank's decision to leave the official cash rate on hold was far from shocking.

See also

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