There’s more to monetary policy than the cash rate

Posted by admin on August 30th, 2009 filed in Uncategorized

The ultra-low cash rate is an argument for an interest rate rise this year, but it is not the only way of gauging the stance of monetary policy. The futures market has factored in a lift in the cash rate, the overnight interbank loan rate used by the Reserve Bank of Australia (RBA) to influence borrowing