A cash rate system for implementing monetary policy

Release date
Vol. 62. No. 1. March 1999
David John Archer; Andy Brookes; Michael Reddell
This article explains in greater depth, a number of considerations relevant to the decision announced on 8 February to adopt an Official Cash Rate (OCR) as the Bank's primary instrument for implementing monetary policy. It should be read in conjunction with the 8 February document reproduced on page 46.