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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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Non-technical summary for ‘The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases’
24 May 2022
RDP
2022-02
Unlike many other central banks, the Reserve Bank had not used bond purchases as a monetary policy tool prior to the pandemic. ... Bond purchases by the central bank can also affect how well the bond market works.
https://www.rba.gov.au/publications/rdp/2022/2022-02/non-technical-summary.html
Event Study of Announcement Effects
24 May 2022
RDP
2022-02
Download the Paper 1.89. MB. As noted, the literature tends to find that in normal markets most of the effect on yields from credible and predictable central bank bond purchase ... On the one hand, bond purchases serve to underline the central bank's
https://www.rba.gov.au/publications/rdp/2022/2022-02/event-study-of-announcement-effects.html
Additional Analysis of Yield Effects
24 May 2022
RDP
2022-02
he reaffirmed the Reserve Bank's commitment to the yield target (Lowe 2021). ... 0.43). 0.37. (0.43). 0.35. (0.43). Reserve Bank bond holdings to GDP.
https://www.rba.gov.au/publications/rdp/2022/2022-02/additional-analysis-of-yield-effects.html
How Bond Purchases Work, and the International Experience
24 May 2022
RDP
2022-02
and. reducing liquidity premia – steady central bank buying reduces the risk of investors being unable to sell bonds at a reasonable price, and increases commercial banks' reserve balances. ... See also Christensen and Krogstrup (2019) for a discussion
https://www.rba.gov.au/publications/rdp/2022/2022-02/how-bond-purchases-work-and-the-international-experience.html