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RBA Glossary definition for inflation target

inflation target – A tool to guide monetary policy expressed as a preferred range or figure for the rate of increase in prices over a period. In Australia, the inflation target is between 2 and 3 per cent per annum on average over the course of the business cycle.

RBA Glossary definition for inflation

inflation – A measure of the change (increase) in the general level of prices.

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Inflation Measurement for Central Bankers | Conference – 2004

9 Aug 2004 Conferences
Robert J Hill
First, inflation rates have fallen significantly since the early 1980s. Second, many central banks have adopted inflation targets. ... It was only subsequently that the CPI was adopted by central banks as an inflation target.
https://www.rba.gov.au/publications/confs/2004/hill.html

Round-up of Monetary Policy and Inflation Targeting

7 Dec 2006 Conferences PDF 20KB
RBA Conference Volume 1997
https://www.rba.gov.au/publications/confs/1997/pdf/roundup.pdf

A Snapshot of Inflation Targeting in its Adolescence | Conference – 2004

9 Aug 2004 Conferences
Kenneth N Kuttner
The key characteristics of the inflation targets are also summarised graphically in Figure 1. ... Similarly, point, range, and range-with-midpoint targets all appear satisfactory, or at least the perceived benefits from moving to a ‘better’ inflation
https://www.rba.gov.au/publications/confs/2004/kuttner.html

Monetary Policy Goals for Inflation in Australia

1 Mar 1995 RDP 9503
Guy Debelle and Glenn Stevens
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1995/9503.html
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Inflation Regimes and Inflation Expectations

1 Dec 2009 RDP PDF 173KB
Expected inflation in subsequent periods isa weighted average of the current inflation target and the expected value of futureinflation targets, as shown by Equations (4) and (5). ... To continue with the flavour of past examples, we choose pastinflation
https://www.rba.gov.au/publications/rdp/1997/pdf/rdp9701.pdf

Appendix A: Derivation of the Mark-up Model of Inflation

31 Dec 2010 RDP 2010-03
David Norman and Anthony Richards
is the central bank's inflation target; α is a parameter that governs the degree to which prices are set with reference to an inflation target (α = 0) or to past ... inflation (α = 1); and ϕ 0 governs the magnitude of price-adjustment costs.
https://www.rba.gov.au/publications/rdp/2010/2010-03/appendix-a.html
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Expectations and the Neutrality of Interest Rates

27 Nov 2023 Conferences PDF 477KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-cochrane.pdf

Inflation Targeting: A Victim of Its Own Success?

23 Aug 2015 RDP PDF 932KB
reasonable provided deviations from the inflation target caused by policy errors are rare. ... 3.2.3 Maintain current targets. An alternative to changing the target measure or adopting a dual mandate is to retain CPI inflation as the target.
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-09.pdf

The Australian Government's Current Approach to Monetary Policy: An Evaluation | Conference – 1997

21 Jul 1997 Conferences
Peter J. Stemp
King (1996) lists eight countries which have recently adopted an explicit inflation target. ... It is argued below that an inflation target is an appropriate single objective.
https://www.rba.gov.au/publications/confs/1997/stemp.html

Theory

31 Dec 1999 RDP 1999-08
Guy Debelle
where π is inflation, π. is the inflation target, y is output, y. ... Flexible inflation targeting refers to the case where λ>0. In practice, it appears that all the inflation-targeting central banks have adopted flexible inflation targets to varying
https://www.rba.gov.au/publications/rdp/1999/1999-08/theory.html
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