Case 3 (5 marks) The Reserve Bank of Australia (RBA) made four consecutive cash rate increases in May-August 2022 in response to rising inflation. If RBA wants to alter the cash rate it will engage in open market operations. Page | 1 Approved: , Version POLYTECHNIC INSTITUTE AUSTRALIA l .I POLY'IECHNIC a. Draw the flow chart step by step and draw the effect of these open market operations on the overnight moneyr market. (3 marks) b. What is the impact of changes in cash rate on other interest rates? (2 marks)