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🌐 Entity
Official cash rate
Rate of interest on overnight loans
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1 news mentions · 👍 0 likes · 👎 0 dislikes
📌 Topics
- Monetary Policy (1)
- Geopolitical Risk (1)
- Inflation (1)
🏷️ Keywords
Reserve Bank of New Zealand (1) · interest rates (1) · inflation (1) · Middle East conflict (1) · monetary policy (1) · Official Cash Rate (1) · geopolitical risk (1) · supply chains (1)
📖 Key Information
The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The OCR cannot be changed by transactions between financial institutions as this does not change the supply of money, only its location.
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