Defined Terms and Documents       

Cash Rate or Cash Rate Target or Overnight Money Market Interest Rate or Overnight Cash Rate or Wholesale Cost Of Funds means the RBA's Official Cash Rate which is the interest rate on overnight loans by the RBA to commercial banks, or between banks, in the money market. 

"The cash rate is a rate set by the Reserve Bank of Australia (RBA) representing the interest that banks and lenders have to pay on the money that they borrow. Over the course of doing business, banks transfer money back and forth between each other, and the cash rate is the interest paid on this money.

The cash rate is sometimes referred to as the “overnight money market interest rate”, because transfers between banks are typically processed overnight, and the cash rate determines how much interest must be paid on transferring this money."

It was:

*        7.25% on 1 June 2008

*        4.75% on 3 Nov 2010

*        4.50% on 2 Nov 2011

*        4.25% on 7 Dec 2011

*        2.75% on 3 July 2013

*        1.50% on 30 Nov 2016

*        1% on 3 July 2019

*        0.75% on 2 Oct 2019

*        0.5% on 4 Mar 2020

*        0.25% on 20 Mar 2020

*        0.10% on 4 Nov 2020

*        0.35% on 4 May 2022

*        0.85% on 8 June 2022

*        1.35% on 6 July 2022

*        1.85% on 3 Aug 2022

*        2.35%  on 6 Sept 2022

*        2.60%  on 5 Oct 2022

*        2.85%  on 2 Nov 2022

*        3.10% on 4 Dec 2022

*        3.35% on 7 Feb 2023

Below is an extract from: RBA Cash Rate Target

"Monetary policy decisions involve setting a target for the cash rate. A media release is issued at 2.30 pm after each Reserve Bank Board meeting, with any change in the cash rate target taking effect the following day. (Prior to Dec 2007, media releases were issued only when the cash rate target was changed.) See About Monetary Policy for more details.

The cash rate is the interest rate on unsecured overnight loans between banks. It is the (near) risk-free benchmark rate (RFR) for the Australian dollar and is also know by the acronym AONIA in financial markets.

See Cash Rate Methodology for more details on how the cash rate is determined, 

Expert Judgement for more details on fall back procedures when there are insufficient cash market transactions, and 

Statistical Table F1 for the history of the cash rate.

The cash rate target graph and table below display interactive information. You can show data according to the sample periods and the direction of change in the cash rate target by selecting from the display options."

See Chapter 5 of Grounds/Reasons for Written Questions

https://www.theguardian.com/business/grogonomics/2019/oct/15/call-your-bank-and-ask-for-a-better-mortgage-deal-but-read-this-first

2.   The Interbank Overnight Cash Market

http://www.loansense.com.au/historical-rates.html

http://www.britzinoz.com/historical-interest-rates-in-australia/  - Mortgage rates

https://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS+Chief+Economist+-+70+Years+of+Inflation+in+Australia  - 70 Years of Inflation in Australia

https://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS+Chief+Economist+-+70+Years+of+Inflation+in+Australia/$File/CPI+70+Years.svg

The same conclusions were reached by the Martin Committee in its 1991 report into banking and deregulation104 and by the Prices Surveillance Authority in its 1992 report into credit card interest rates

Australian Economic Statistics 1949-1950 to 1996-1997 Occasional Paper No. 8

Historical Data  https://www.rba.gov.au/statistics/historical-data.html