 Under the Australian system the Reserve Bank of Australia issues its dealing intentions at the start of each day, and banks and other financial institutions will act prior to the actual rate being achieved.The rate is set by the central banks regularly, usually every month in Australia and every six weeks in New Zealand and forms one of the main tools to manage monetary policy.In New Zealand, the official cash rate (OCR) is set by the Reserve Bank of New Zealand to meet the inflation target specified in the Policy Targets Agreement.