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Official Cash Rate
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. Only transfers between the central bank and an institution can affect the OCR. As banks settle all inter-bank transfers overnight, the central bank can regulate the rate paid for cash by the sale or buy back of bonds and other government issued securities (these are known as domestic market operations). As the sale or purchase of bonds affects the supply of money, then the interest rate will change to reflect its availability. This system indirectly influences the term structure of interest rates in the whole ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Australia
Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller islands. It has a total area of , making it the list of countries and dependencies by area, sixth-largest country in the world and the largest in Oceania. Australia is the world's flattest and driest inhabited continent. It is a megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and Climate of Australia, climates including deserts of Australia, deserts in the Outback, interior and forests of Australia, tropical rainforests along the Eastern states of Australia, coast. The ancestors of Aboriginal Australians began arriving from south-east Asia 50,000 to 65,000 years ago, during the Last Glacial Period, last glacial period. By the time of British settlement, Aboriginal Australians spoke 250 distinct l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
September 11 Attacks
The September 11 attacks, also known as 9/11, were four coordinated Islamist terrorist suicide attacks by al-Qaeda against the United States in 2001. Nineteen terrorists hijacked four commercial airliners, crashing the first two into the Twin Towers of the World Trade Center in New York City and the third into the Pentagon (headquarters of the U.S. Department of Defense) in Arlington County, Virginia. The fourth plane crashed in a rural Pennsylvania field during a passenger revolt. The attacks killed 2,977 people, making it the deadliest terrorist attack in history. In response to the attacks, the United States waged the global war on terror over multiple decades to eliminate hostile groups deemed terrorist organizations, as well as the foreign governments purported to support them. Ringleader Mohamed Atta flew American Airlines Flight 11 into the North Tower of the World Trade Center complex at 8:46 a.m. Seventeen minutes later at 9:03 a.m., United Airlines Flig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Interest Rates
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income". The borrower wants, or needs, to have money sooner, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * the term to mat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economy Of New Zealand
New Zealand has a highly developed free-market economy. New Zealand's nominal GDP was NZD $425 billion. In the 2025 IMF rankings New Zealand was the 52nd-largest national economy in the world when measured by nominal gross domestic product (GDP) and the 63rd-largest in the world when measured by purchasing power parity (PPP). New Zealand has one of the most globalised economies and depends greatly on international trade, mainly with China, Australia, the European Union, the United States, Japan and Korea. New Zealand's 1983 Closer Economic Relations agreement with Australia means that the economy aligns closely with that of Australia. Among OECD nations, New Zealand has a highly efficient and strong social security system; social expenditure stood at roughly 19.4% of GDP. New Zealand's diverse economy is made up of various types of informal and formal organisations, divided between the public and private sectors. It has a sizeable service sector, accounting for 73% o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economy Of Australia
Australia is a Developed country, highly developed country with a mixed economy. As of 2023, Australia was the List of countries by GDP (nominal), 14th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by Purchasing power parity, PPP-adjusted GDP, and was the List of countries by exports, 21st-largest goods exporter and List of countries by imports, 24th-largest goods importer. Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter. It was the 103rd quarter and the 26th year since the country had a technical recession. As of June 2021, the country's GDP was estimated at $1.98 trillion. The Australian economy is dominated by its service sector, which in 2017 comprised 62.7% of the GDP and employed 78.8% of the labour force. At the height of the mining boom in 2009–10, the total value-added of the mining industry was 8.4% of GDP. Despite the recent decline in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Official Bank Rate
In the United Kingdom, the official bank rate is the rate that the Bank of England charges banks and financial institutions for loans with a maturity of 1 day. It is the Bank of England's key interest rate for enacting monetary policy. It is more analogous to the US discount rate than to the federal funds rate. The security for the lending can be any of a list of eligible securities (commonly gilts) and the transactions are overnight repurchase agreements. Changes are recommended by the Monetary Policy Committee and enacted by the Governor. On 2 August 2018 the Bank of England base rate was increased to 0.75%, but then cut to 0.25% on 11 March 2020, and shortly thereafter to an all-time low of 0.1% on 19 March, as emergency measures during the COVID-19 pandemic. On 15 December 2021, the Monetary Policy Committee voted 8-1 to increase the bank rate to 0.25%, and subsequently increased it thirteen more times to 5.25% on 02 August 2023. As of 21 August 2024 the bank rate sits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Federal Funds Rate
In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an collateral (finance), uncollateralized basis. Bank reserves, Reserve balances are amounts held at the Federal Reserve. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets and central to the conduct of Monetary policy of the United States, monetary policy in the United States as it influences a wide range of market interest rates. The effective federal funds rate (EFFR) is calculated as the effective median interest rate of overnight federal funds transactions during the previous business day. It is published daily by the Federal Reserve Bank of New York. The federal funds target range is determined by a meeting of the members of the Federal Open Mar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
COVID-19 Pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December 2019. Soon after, it spread to other areas of Asia, and COVID-19 pandemic by country and territory, then worldwide in early 2020. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern (PHEIC) on 30 January 2020, and assessed the outbreak as having become a pandemic on 11 March. COVID-19 symptoms range from asymptomatic to deadly, but most commonly include fever, sore throat, nocturnal cough, and fatigue. Transmission of COVID-19, Transmission of the virus is often airborne transmission, through airborne particles. Mutations have variants of SARS-CoV-2, produced many strains (variants) with varying degrees of infectivity and virulence. COVID-19 vaccines were developed rapidly and deplo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Philip Lowe
Philip Lowe (born 4 October 1961) is an Australian economist and former Governor of the Reserve Bank of Australia, from September 2016 to September 2023. He was also deputy governor under Glenn Stevens from February 2012 to September 2016. Early life and education Lowe was born in Wagga Wagga, New South Wales. He was the eldest of five children. He attended St Michael's High School and Trinity Senior High School. Lowe later moved to Sydney and was hired by the RBA straight out of high school. He was initially employed as a clerical worker in 1980 at the age of 17, while completing his undergraduate commerce degree at the University of New South Wales by attending night classes. He was awarded first-class honours and the University Medal on his graduation in 1985. Lowe later completed a doctorate in 1994 at the Massachusetts Institute of Technology (MIT), with Paul Krugman as his adviser. Career Lowe started working at the Bank at age 18. In 1997, Lowe was appointed head ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
New Zealand
New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of island countries, sixth-largest island country by area and lies east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The Geography of New Zealand, country's varied topography and sharp mountain peaks, including the Southern Alps (), owe much to tectonic uplift and volcanic eruptions. Capital of New Zealand, New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and subsequently developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
