Search: RBA
RBA Glossary definition for RBA
RBA – Reserve Bank of Australia. Australia's central bank, the body corporate successor to the Commonwealth Bank established in 1912; created under its new name by the Reserve Bank Act 1959.
Search Results
Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!
12 May 2023
RDP
2023-04
For example, it suggests that: (i) signalling/forward guidance shocks tended to raise expected future policy rates in the mid-2010s as the RBA highlighted rising risks in housing markets; (ii) ... rates are predictable based on data available at the time,
https://www.rba.gov.au/publications/rdp/2023/2023-04.html
Appendix A: Affine Term Structure Model
12 May 2023
RDP
2023-04
RDP 2023-04: Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No! Appendix A: Affine Term Structure Model. Jonathan Hambur and Qazi Haque. Download the Paper 1.43. MB. We use a
https://www.rba.gov.au/publications/rdp/2023/2023-04/appendix-a.html
Conclusion
12 May 2023
RDP
2023-04
For example, Path (or signalling) shocks tended to affect expected rates during periods when the RBA has signalled concerns over future economic outcomes, or communicated that rates could remain higher than ... And some shocks to the path of rates are
https://www.rba.gov.au/publications/rdp/2023/2023-04/conclusion.html
Appendix B: Additional Results
12 May 2023
RDP
2023-04
RDP 2023-04: Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No! Appendix B: Additional Results. Jonathan Hambur and Qazi Haque. Download the Paper 1.43. MB. Table B1: Robust
https://www.rba.gov.au/publications/rdp/2023/2023-04/appendix-b.html
Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!
1 Apr 2023
RDP
2023-04
0.013. 0.018. 0.015. 0.015. 523. Sources: Authors' calculations; RBA; Refinitiv; Yieldbroker. ... Figure 7: Premia Shocks and Proxies for Monetary Policy Uncertainty. Sources: Authors' calculations; RBA.
https://www.rba.gov.au/publications/rdp/2023/2023-04/full.html
Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!
1 Apr 2023
RDP
2023-04
May 2023. 1.43. MB. Thanks to Meredith Beechey-Österholm, James Morley, Matthew Read, Chris Gibbs, Bonsoo Koo, Wenying Yao and seminar participants at the RBA for their helpful comments.
https://www.rba.gov.au/publications/rdp/2023/2023-04/sections.html
References
12 May 2023
RDP
2023-04
Beckers B (2020), ‘Credit Spreads, Monetary Policy and the Price Puzzle’, RBA Research Discussion Paper No 2020-01. ... Berkelmans L (2005), ‘Credit and Monetary Policy: An Australian SVAR’, RBA Research Discussion Paper No 2005-06.
https://www.rba.gov.au/publications/rdp/2023/2023-04/references.html
Read me file
12 May 2023
RDP
2023-04
Input dataHF zcrinput‘Announcement ZCR.xls’ (for unconventional policy periods). – Obtained from RBA statistical table F17. ... CPI – Trimmed mean CPI; obtained from RBA statistical table G1 Consumer Price Inflation. –
https://www.rba.gov.au/publications/rdp/2023/2023-04/read-me.html
Related Literature
12 May 2023
RDP
2023-04
RDP 2023-04: Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No! 2. Related Literature. Jonathan Hambur and Qazi Haque. Download the Paper 1.43. MB. Our paper relates to the
https://www.rba.gov.au/publications/rdp/2023/2023-04/related-literature.html
Introduction
12 May 2023
RDP
2023-04
Second, the approach allows us to try to quantify the effects of the RBA's communication about the outlook for rates and the economy. ... This suggests that markets systematically misunderstand how the RBA reacts to data, potentially because they are
https://www.rba.gov.au/publications/rdp/2023/2023-04/introduction.html