But if the medium-term inflation outlook changes and if financing conditions become inconsistent with further progress towards our 2% target, we stand ready to revise our schedule for net asset purchases in terms of size and/or duration. Second, gradualism means that we will move carefully and adjust our policy as we receive feedback on our actions.
But the procedures also allow for the cash rate to be determined by the RBA in its expert judgement and based on market conditions. So this has ensured that the cash rate continues to reflect the interest rate relevant to unsecured overnight funds. In short, the Reserve Bank can assure you of the robustness of the cash rate as a benchmark.