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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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Previous Profitability Studies

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
According to his estimates, central banks lost more than $US11 billion over the whole period. ... argued that a central bank's operations may be stabilising but not be profitable.
https://www.rba.gov.au/publications/rdp/1994/9406/previous-profitability-studies.html

Introduction

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
for the view that central bank intervention has been effective in stabilising the exchange rate. ... reserves of the banking system) but in reality central banks virtually always sterilise their intervention.
https://www.rba.gov.au/publications/rdp/1994/9406/introduction.html

References

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
64:1–19. Dominguez, K. (1989), ‘Market Response to Coordinated Central Bank Intervention’, National Bureau of Economic Research, Working Paper No. ... 54: 139–161. Humpage, O. (1991), ‘Central Bank Intervention: Recent Literature, Continuing
https://www.rba.gov.au/publications/rdp/1994/9406/references.html

Reserve Bank Operations in the Foreign Exchange Market: Effectiveness and Profitability

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1994/9406.html

The Profitability of Reserve Bank Intervention

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
To our knowledge, most central banks intervene with the main objective of stabilising their exchange rate; they do not take portfolio considerations into account. ... It is worth repeating the earlier point, however, that taking account of net interest
https://www.rba.gov.au/publications/rdp/1994/9406/profitability-reserve-bank-interventio.html

Alternative Tests Of Stabilising Intervention

1 Nov 1994 RDP 9406
Robert Andrew and John Broadbent
This is also more realistic because it allows the central bank some latitude in assessing where the longer-term exchange rate is likely to lie. ... Mayer and Taguchi argued that this hybrid criterion more accurately reflected central bank behaviour.
https://www.rba.gov.au/publications/rdp/1994/9406/alternative-tests-stabilising-intervention.html