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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.

Search Results

The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets

1 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Δ. c. r. t. represents the quarterly percentage point change in the cash rate target. ... In particular, the Reserve Bank focuses on aggregate measures of economic activity and inflation in setting monetary policy.
https://www.rba.gov.au/publications/rdp/2020/2020-02/full.html

Data

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
In the baseline models, the stance of monetary policy is measured by the cash rate target, as published in RBA statistical table F1 (Interest Rates and Yields – Money Market). ... The sample period roughly aligns with the introduction of inflation
https://www.rba.gov.au/publications/rdp/2020/2020-02/data.html

Robustness Tests

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
This monetary policy shock series is constructed by purging changes in the cash rate of information in the Reserve Bank's forecasts of unemployment, real GDP and inflation (Bishop and Tulip ... Y. t. h. |. t. f. c. represents the Reserve Bank's forecasts
https://www.rba.gov.au/publications/rdp/2020/2020-02/robustness-tests.html

Appendix A: Data Description

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Quarterly. Cash rate target. RBA. March 1990. June 2019. Quarterly. GDP growth, year-ended. ... Quarterly. RBA forecasts of unemployment, real GDP and inflation. RBA. September 1992.
https://www.rba.gov.au/publications/rdp/2020/2020-02/appendix-a.html

References

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Vespignani JL (2013), ‘The Industrial Impact of Monetary Shocks during the Inflation-Targeting Era in Australia’, Australian Economic History Review, 53(1), pp 47–71.
https://www.rba.gov.au/publications/rdp/2020/2020-02/references.html

Heterogeneity in the Sensitivity of Local Housing Prices to Monetary Policy

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Δ. c. r. t. represents the quarterly percentage point change in the cash rate target. ... In particular, the Reserve Bank focuses on aggregate measures of economic activity and inflation in setting monetary policy.
https://www.rba.gov.au/publications/rdp/2020/2020-02/heterogeneity-in-the-sensitivity-of-local-housing-prices-to-monetary-policy.html