Rba Open Market Operations

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Written by:

Pamela W


Date added:

April 15, 2015








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4 / 1058


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A target cash rate is set by the RBA for a period which in effect determines the interest rate that ADI’s charge on loans. Once the target cash rate is determined it is then the responsibility of the Domestic Markets department of the RBA to manage the cash rate and keep it in line with the target...
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One of the major indicators is the balance ADI’s hold in their Exchange Settlement Accounts (ESAs). The purpose of ESAs is to hold the funds required for ADI’s to meet their payment obligations between each other and the RBA on a daily basis. This could be achieved by holding very large sums of money in their ESAs, but the RBA only pays a small interest rate of 25 basis points below the cash rate on these balances...
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