10 banking buzzwords to know about in 2021 10 banking buzzwords to know about in 2021 Monday, 18 January 2021 In the world of banking, 2020 was a whirlwind. From three RBA rate cuts and the implementation of open banking, to the growth of some neobanks and fall of others, it can all be hard to keep track of. So if you’re left feeling a bit confused about what’s to come in 2021, we’ve got you covered. Here are our top 10 banking buzzwords you’re likely to hear more than once this year. 1. Historical RBA Cash Rate Cuts Last year, the Reserve Bank of Australia (RBA) made three cuts to its official cash rate, leaving it at an historically low 0.10%. In response to the outbreak of the COVID-19 pandemic, the RBA made the rare decision to cut by 0.25% twice in March, and then most recently by 0.15% in November.