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RBA Glossary definition for inflation target

inflation target – A tool to guide monetary policy expressed as a preferred range or figure for the rate of increase in prices over a period. In Australia, the inflation target is between 2 and 3 per cent per annum on average over the course of the business cycle.

RBA Glossary definition for inflation

inflation – A measure of the change (increase) in the general level of prices.

Search Results

Disagreement about Inflation Expectations

1 Apr 2016 RDP 2016-02
Alexander Ballantyne, Christian Gillitzer, David Jacobs and Ewan Rankin
As discussed in the introduction, one justification for relatively low inflation targets is that low levels of inflation are likely to be associated with low levels of uncertainty about inflation. ... In addition, inattentiveness might actually suggest a
https://www.rba.gov.au/publications/rdp/2016/2016-02/full.html
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Inflation Convergence

31 Dec 2004 RDP 2004-04
Markus Hyvonen
They initially produce results suggesting benefits from inflation targeting, namely that the seven OECD countries that adopted inflation targets experienced larger falls in inflation than the thirteen OECD countries that did ... Countries that did not
https://www.rba.gov.au/publications/rdp/2004/2004-04/inflation-convergence.html
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Price Targets or Nominal Income Targets?

1 Jul 1989 RDP 8905
Malcolm L. Edey
https://www.rba.gov.au/publications/rdp/1989/8905/price-targets-or-nominal-income-targets.html
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The Model

1 Sep 2000 RDP 2000-06
Chris Ryan and Christopher Thompson
The inflation target embedded in the monetary-policy rule acts as the nominal anchor and brings about nominal equilibrium in the model. ... Repeating this experiment with a monetary-policy rule that responds to the deviation of non-tradeable (rather than
https://www.rba.gov.au/publications/rdp/2000/2000-06/model.html
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Credit Spreads, Monetary Policy and the Price Puzzle

1 Jan 2020 RDP 2020-01
Benjamin Beckers
If the Board changes the cash rate for reasons other than achieving its inflation target, these changes can be used as instruments for policy shocks with regard to inflation. ... Since money and credit market conditions provide additional information
https://www.rba.gov.au/publications/rdp/2020/2020-01/full.html
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Inflation Targeting and Output Stabilisation

1 Dec 2009 RDP PDF 134KB
In particular, the inflation target can serve an important roleas an anchor for price and wage setters. ... The medium-term nature of Australia’s inflation target has allowed forconsideration to be given to output stabilisation.
https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-08.pdf

Inflation Performance

31 Dec 2001 RDP 2001-02
Jacqueline Dwyer and Kenneth Leong
Furthermore, in the period since the adoption of the inflation target, it is clear that inflation has been below 2 per cent for longer than it has been above 3 per ... of having an inflation target; in fact, I cannot recall anyone even contemplating it
https://www.rba.gov.au/publications/rdp/2001/2001-02/inflation-performance.html
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Results

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
3 per cent and an inflation target of 2.5 per cent, the midpoint of the 2–3 per cent medium-term target band. ... Since i = r π, this might represent an economy where the neutral real rate, r, is 2 per cent, and target inflation, π, is 1 per cent;
https://www.rba.gov.au/publications/rdp/2005/2005-04/results.html
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Financial Regulation and the Inflation Environment

1 Dec 1997 RDP 9709
Christopher Kent and Philip Lowe
In this way, sound bank regulation makes it easier for the central bank to achieve its inflation target. ... A second issue is whether the target rate of inflation affects the critical parameters of our model.
https://www.rba.gov.au/publications/rdp/1997/9709/financial-regulation-inflation.html
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MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy

20 Aug 2019 RDP PDF 1571KB
to deviations of trimmed mean inflation from the inflation target, the unemployment gap and the. ... interest rates to meet its inflation target) others (such as the assumption that long-run expenditure.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-07.pdf