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RBA Glossary definition for central bank

central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.

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Policy Implications

1 Feb 1998 RDP 9803
Gordon de Brouwer and Luci Ellis
If the central bank lacks credibility, people expect that shocks to inflation permanently affect inflation. ... future. This is perhaps one reason why many central banks in developed countries have adopted explicit inflation targets.
https://www.rba.gov.au/publications/rdp/1998/1998-03/policy-implications.html

Forward-looking Behaviour and Credibility: Some Evidence and Implications for Policy

1 Aug 1998 RDP 9803
Gordon de Brouwer and Luci Ellis
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1998/9803.html

Conclusions

1 Feb 1998 RDP 9803
Gordon de Brouwer and Luci Ellis
past and explicit consideration of what is likely to happen in the future, including the expected behaviour of the central bank. ... This additional stability is accounted for by people recognising that the central bank will respond to ‘shocks’ in
https://www.rba.gov.au/publications/rdp/1998/1998-03/conclusions.html

Introduction

1 Feb 1998 RDP 9803
Gordon de Brouwer and Luci Ellis
One case is that people form their expectations of the future based on the structure of the model, including how the central bank sets monetary policy. ... Consistent with earlier work, our results show that shocks are less destabilising when people know
https://www.rba.gov.au/publications/rdp/1998/1998-03/introduction.html

Evidence on the Formation of Inflation Expectations

1 Feb 1998 RDP 9803
Gordon de Brouwer and Luci Ellis
It provides an insight into the anti-inflation credibility of a central bank as assessed by the financial market, since it indicates whether or not the market believes that the monetary ... This suggests that the market believes that the Reserve Bank of
https://www.rba.gov.au/publications/rdp/1998/1998-03/evidence-on-the-formation-of-inflation-expectations.html