Go to: https://www.rba.gov.au/monetary-policy/about.html When does the RBA make its cash rate decision?

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BlackTom AI · Accepted Answer

Question restatement: The prompt asks, 'When does the RBA make its cash rate decision?' with four options to choose from.
Option a: 'On the evening of a full moon in months beginning with the letter 'A'.' This is clearly fictional and whimsical, not tied to any actual schedule. Central bank decisions are not governed by lunar cycles or month-name patterns, so this option is incorrect.
Option b: 'At the commencement of each new quarter (every 3 months)'. While quarterly timing is a reasonable-looking pattern, the Reserve Bank of Australia does not align its cash rate decisions to the start of each quarter. The schedule isn’t fixed to quarterly boundaries, making this statement inaccurate.
Option c: 'The RBA Board meets eight times a year.' This is the factual statement. The RBA Board indeed holds eight monetary policy meetings per year, at which it reviews the stance on the cash rate and makes a decision based on its assessment of the economy.
Option d: 'As directed by the Prime Minister of Australia or his/her representative.' Monetary policy decisions are the purview of the central bank independently of direct political direction, so this assertion is incorrect.
In summary, option c correctly reflects the standard pattern of RBA monetary policy meetings, while the other options either present fanciful timing, an incorrect quarterly schedule, or inappropriate governmental instruction as the basis for decisions.

MUF0062 Economics Unit 2 - Semester 1, 2025 PRE-CLASS 1: Role of Reserve Bank of Australia (RBA)? (10 - 15 minutes)

Go to: https://www.rba.gov.au/monetary-policy/about.html When does the RBA make its cash rate decision?

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