90-day bank bill rate
Since March 1999, the Reserve Bank has used the Official Cash Rate (OCR) as its tool for implementing monetary policy. By setting the OCR, the Reserve Bank is able to influence short-term interest rates such as the 90-day bank bill rate, as well as long-term interest rates and the foreign exchange rate. Data is available from 1999.
90-day bank bill rate & Official Cash Rate
By setting the OCR, the Reserve Bank is able to influence short-term interest rates such as the 90-day bank bill rate. These bills are mostly issued as Registered Certificates of Deposit (RCD) but can also be a Bill of Exchange issued or accepted by a bank. Bills of Exchange represent only a very small portion of total securities outstanding in this category.
Data for the OCR and the 90-day bank bill rate is available from 1999 in the key graph data file. Daily data is also published in the Wholesale interest rates (B2) data table.