Search: monetary aggregates
RBA Glossary definition for monetary aggregates
monetary aggregates – A series of measures of the values of currency on issue, current deposits with banks, other deposits with banks, plus borrowings from the private sector by non-bank financial institutions (NBFIs) less currency and bank deposits by NBFIs. Components consist of: 'M1' defined as currency plus bank current deposits from the private non-bank sector; 'M3' defined as M1 plus all other authorised deposit-taking institution (ADI) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another; 'Broad money' defined as M3 plus other short-term liquid AFI liabilities held by the private sector, except those held by other AFIs ; 'Money base' defined as holdings of banknotes and coins by the private sector plus deposits of banks with the Reserve Bank of Australia (RBA) and other RBA liabilities to the private non-bank sector
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Financial Aggregates as Conditioning Information for Australian Output and Inflation
1 Dec 2009
RDP
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138KB
key test of the relationships in the US data between output, theprice level and chosen monetary aggregates. ... 6 These prediction tests provide a ‘low hurdle’ for monetary aggregates as measures informative.
https://www.rba.gov.au/publications/rdp/1997/pdf/rdp9704.pdf
FINANCIAL INNOVATIONS AND MONETARY POLICY1 A PRELIMINARY SURVEY* Carolyn ...
23 Feb 2017
RDP
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542KB
neither precludes further disturbances to monetary aggregates. nor ensures policy accuracy by restoring the former historical. ... Federal Reserve Bank of Boston. Controlling Monetary Aggregates III. Proceedings of a Conference (October 1980).
https://www.rba.gov.au/publications/rdp/1983/pdf/rdp8301.pdf
Demand in the Repo Market: Indirect Perspectives from Open Market Operations from 2006 to 2020
9 May 2024
RDP
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4625KB
Most of this work was completed while the authors were working on monetary policy. ... conduct of domestic monetary policy operations. Finally, the terms at which the Reserve Bank.
https://www.rba.gov.au/publications/rdp/2024/pdf/rdp2024-03.pdf
The Consequences of Low Interest Rates for the Australian Banking Sector
19 Dec 2022
RDP
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1588KB
Australia. JEL Classification Numbers: E43, E52, G21. Keywords: banking, interest rates, monetary policy. ... the pass-through of monetary policy at low rates, and provide some quantitative estimates.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-08.pdf
The Term Funding Facility: Has It Encouraged Business Lending?
8 Dec 2022
RDP
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2133KB
aggregate lending to large businesses increased in mid-2021 as economic conditions improved. ... terms. In aggregate, businesses’ demand for debt was weak throughout 2020 and early 2021.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-07.pdf
China’s Evolving Monetary Policy Framework in International Context
4 Dec 2019
RDP
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1923KB
now have a larger effect than monetary aggregates on output and bond yields, reflecting a Chinese. ... China to contain more leading information for asset prices and output than monetary aggregates,.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-11.pdf
The Relationship between Financial Indicators and Economic Activity: Some Further Evidence
19 Nov 2012
RDP
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1506KB
Its tentative conclusions were that the narrow monetary aggregate Mil and the level of short-term interest rates had a reasonably good relationship with private final spending, and had the added ... the yield on 90-day bank-accepted bills;. monetary
https://www.rba.gov.au/publications/rdp/1989/pdf/rdp8903.pdf
MEETING ON MONETARY ISSUES Reserve Bank of Australia Research ...
15 Oct 2014
RDP
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980KB
However, it was generally agreed that the monetary aggregates have recently been affected by structural change. ... The long-run picture of the monetary aggregates stands in some contrast to developments over the past financial year.
https://www.rba.gov.au/publications/rdp/1985/pdf/rdp8502.pdf
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
20 Aug 2019
RDP
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1571KB
of the Australian economy that affect the setting and transmission of monetary policy. ... account for feedback between economic variables. For example, an increase in aggregate demand.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-07.pdf
Trends in the Australian Banking System: Implications for Financial System Stability and Monetary Policy
1 Dec 2009
RDP
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156KB
MONETARY POLICY. Christopher Kent and Guy Debelle. Research Discussion Paper1999-05. March 1999. ... 6. Implications for System Stability and Monetary Policy 35. Appendix: Data Sources 38.
https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-05.pdf