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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 in Australia: Measurement and Modelling | Conference – 2004

9 Aug 2004 Conferences
Alexandra Heath, Ivan Roberts and Tim Bulman
For this reason, the RBA initially phrased its inflation target in terms of the Treasury underlying series of inflation. ... The RBA restated its inflation target in terms of CPI inflation, and publication of the Treasury underlying series was ceased
https://www.rba.gov.au/publications/confs/2004/heath-roberts-bulman.html

Relative Price Shocks, Inflation Expectations, and the Role of Monetary Policy | Conference – 2009

17 Aug 2009 Conferences
Pierre L Siklos
five of which explicitly target inflation, and ask: to what extent are disagreements over forecasts of inflation driven by movements in relative prices? ... The shaded areas highlight, where relevant, the period before inflation targets were introduced.
https://www.rba.gov.au/publications/confs/2009/siklos.html

Discussion on Inflation Targeting and Japan: Why has the Bank of Japan not Adopted Inflation Targeting? | Conference – 2004

9 Aug 2004 Conferences
Baltensperger, Fischer and Jordan (2002) have argued that central banks that enjoy a measure of goal independence may refrain from binding themselves with an inflation target. ... Reference. Baltensperger E, AM Fischer and TJ Jordan (2002), ‘Abstaining
https://www.rba.gov.au/publications/confs/2004/ito-disc.html

Discussion on Inflation Measurement for Central Bankers | Conference – 2004

9 Aug 2004 Conferences
This type of change would, therefore, require a transition that brings actual inflation according to the new measure into line with an unchanged inflation target. ... Also, the inflation target must obviously be set high enough to account for the bias.
https://www.rba.gov.au/publications/confs/2004/hill-disc.html

Introduction | Conference – 2004

9 Aug 2004 Conferences
Christopher Kent and Simon Guttmann
In other words, what matters more is the existence of an inflation target. ... Without an instrument to ensure the target is attained, any announcement of an inflation target would therefore lack credibility.
https://www.rba.gov.au/publications/confs/2004/intro-2004.html

Discussion of Inflation and Interest Rates

27 Nov 2023 Conferences PDF 230KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-cochrane-discussion-presentation.pdf

Monetary Policy Frameworks Away from the ELB

20 Dec 2023 Conferences PDF 4375KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-de-fiore-mojon-rees-sandri.pdf

A Factor Model Analysis of the Effects of Inflation Targeting on the Australian Economy | Conference – 2018

12 Apr 2018 Conferences
Luke Hartigan and James Morley
index (CPI) inflation in Australia around the numerical target range of 2–3 per cent introduced by the Reserve Bank of Australia (RBA) in 1993 (Stevens 1999). ... The CPI stabilises at a lower level, making it clear that the RBA targets inflation, not
https://www.rba.gov.au/publications/confs/2018/hartigan-morley.html

Discussion on Evaluating Simple Monetary-policy Rules for Australia | Conference – 1997

21 Jul 1997 Conferences
T. is the inflation target. We use a two-period moving average of the deviation of inflation from target in the rule to avoid any excess sensitivity to inflation developments in ... Svensson, L.E.O. (1997), ‘Inflation Forecast Targeting: Implementing
https://www.rba.gov.au/publications/confs/1997/macklem.html

Financial-asset Prices and Monetary Policy: Theory and Evidence | Conference – 1997

21 Jul 1997 Conferences
Frank Smets
Using an MCI is beneficial in terms of practicality and because it contributes to transparency about how the central bank intends to achieve its announced inflation target. ... the inflation target and. the current output gap. This target rule is a
https://www.rba.gov.au/publications/confs/1997/smets.html