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RBA Glossary definition for floating exchange rate
floating exchange rate – Exchange rates determined by market forces based on the demand for and supply of a currency.
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International Interest Rate Linkages and Monetary Policy: The Case of Australia
1 Dec 1988
RDP
8812
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8812.html
The Main Questions
1 Dec 1988
RDP
8812
A major reason behind the floating of the exchange rate was, as in the textbooks, to gain greater monetary policy independence. ... Given this, after the floating of the exchange rate we might expect to see an increase in volatility of the exchange rate,
https://www.rba.gov.au/publications/rdp/1988/8812/main-questions.html
Conclusions
1 Dec 1988
RDP
8812
The paper has argued that this result is to be expected, given that in the middle of the period under consideration, the exchange rate went from essentially being fixed to ... Rather, the paper has suggested that the floating of the exchange rate has
https://www.rba.gov.au/publications/rdp/1988/8812/conclusions.html
Structural Background
1 Dec 1988
RDP
8812
While the exchange rate changed frequently, there was no market in foreign exchange and the system was more similar to the textbook fixed exchange rate regime than to a floating exchange ... At the same time as the exchange rate was floated, exchange
https://www.rba.gov.au/publications/rdp/1988/8812/structural-background.html
The Transmission of Monetary Policy
1 Dec 1988
RDP
8812
Daily market operations by the central bank are used to influence this interest rate, with the effects then flowing through to a wide range of interest rates and to the exchange ... In a world of capital mobility and floating exchange rates, a change in
https://www.rba.gov.au/publications/rdp/1988/8812/transmission-of-monetary-policy.html