Search: inflation target
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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Data Availability
25 Mar 2024
Chart Pack
Data availability for graphs included in the Bank's monthly ‘Chart Pack’
https://www.rba.gov.au/chart-pack/data-availability.html
China's Evolving Monetary Policy Framework in International Context
1 Dec 2019
RDP
2019-11
The precise manner in which the high-level objectives for monetary policy translate into inflation targets differs only to a degree across advanced economies. ... Unlike inflation targets in most inflation-targeting monetary policy frameworks, the
https://www.rba.gov.au/publications/rdp/2019/2019-11/full.html
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Monetary Policy Goals for Inflation in Australia
30 Nov 2009
RDP
PDF
85KB
is a relative paucity of academic literature on operating monetary policy withexplicit inflation targets. ... Since in many instances theannouncement of inflation targets is a relatively recent phenomenon, and no countryhas yet operated with an inflation
https://www.rba.gov.au/publications/rdp/1995/pdf/rdp9503.pdf
Monetary Policy Goals for Inflation in Australia
1 Mar 1995
RDP
9503
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
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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Theory
31 Dec 1999
RDP
1999-08
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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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
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
The central bank sets the cash rate according to a monetary policy reaction function that responds to deviations of trimmed mean inflation from the inflation target, the unemployment gap and the ... The central bank adjusts interest rates to ensure that
https://www.rba.gov.au/publications/rdp/2019/2019-07/full.html
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Modelling Inflation in Australia
1 Jul 2010
RDP
PDF
497KB
1. Introduction. Central banks in most advanced economies now operate with some form of either explicit or implicit inflation target, with the Reserve Bank of Australia (RBA) operating under such a ... Given no change in the inflation target, this
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-03.pdf