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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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Appendix A: Effectiveness of Australian Intervention – A Survey

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
Download the Paper 585. KB. Many authors have attempted to measure the effectiveness of foreign exchange intervention by central banks. ... engage in further intervention will typically depend on the response of the exchange rate to [the central bank's]
https://www.rba.gov.au/publications/rdp/2004/2004-06/appendix-a.html

Profitability of Reserve Bank Foreign Exchange Operations: Twenty Years After the Float

1 Sep 2004 RDP 2004-06
Chris Becker and Michael Sinclair
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2004/2004-06.html

References

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
Edison H (1993), ‘The effectiveness of central-bank intervention: a survey of the literature after 1982’, Special Papers in International Economics No 18. ... Fatum R (2000), ‘On the effectiveness of sterilized foreign exchange intervention’,
https://www.rba.gov.au/publications/rdp/2004/2004-06/references.html

Introduction

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
The basic thesis postulated is that intervention aimed at stabilising the exchange rate will require the central bank to buy the currency when the exchange rate is relatively low and to ... Applying this logic in reverse, it follows that if a central
https://www.rba.gov.au/publications/rdp/2004/2004-06/introduction.html

Profits from Intervention

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
If the central bank is successful in buying low and selling high, its intervention should yield a profit. ... In such cases the central bank may not have the opportunity to rebuild reserves at a higher exchange rate.
https://www.rba.gov.au/publications/rdp/2004/2004-06/profits-from-intervention.html

How the Reserve Bank Intervenes

31 Dec 2004 RDP 2004-06
Chris Becker and Michael Sinclair
This is risky for the bank concerned, as the RBA will be dealing on other banks' bids or offers, so a number of banks may be faced with the same position ... This is called sterilised intervention, and is the routine practice for central banks, unless
https://www.rba.gov.au/publications/rdp/2004/2004-06/how-the-reserve-bank-intervenes.html