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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

Is the Phillips Curve Still a Curve? Evidence from the Regions

29 Aug 2021 RDP PDF 1706KB
away from the central bank’s inflation target without necessarily moving the economy away from. ... across regions to the extent they are determined solely by the credibility of the RBA’s inflation target.
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-09.pdf

Monetary Policy, Equity Markets and the Information Effect

23 Mar 2021 RDP 2021-04
Calvin He
news. I test this by examining the relationship between the monetary policy surprises and surprises in economic news, in particular GDP, inflation and unemployment. ... The results provide little evidence that the monetary policy surprise series can be
https://www.rba.gov.au/publications/rdp/2021/2021-04/full.html
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Results

31 Dec 2011 RDP 2011-05
Jarkko Jääskelä and Penelope Smith
Median target. 43. 36. 68. 39. 20. 3. 18. One std dev interval. ... According to the median target measure, 70 per cent of the variance in domestic output and 73 per cent of the variance in trimmed-mean inflation is explained by domestic factors.
https://www.rba.gov.au/publications/rdp/2011/2011-05/results.html
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References

1 Jul 1997 RDP 9704
Ellis W. Tallman and Naveen Chandra
RDP 9704: Financial Aggregates as Conditioning Information for Australian Output and Inflation References. ... 174–180. de Brouwer, G. and N.R. Ericsson (1995), ‘Modelling Inflation in Australia’, Reserve Bank of Australia Research Discussion Paper
https://www.rba.gov.au/publications/rdp/1997/9704/references.html
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Policy Rules for Open Economies

1 Dec 2009 RDP PDF 138KB
5.1 Strict Inflation Targets 11. 5.2 The Case of New Zealand 13. ... 5. The Perils of Inflation Targeting. This section turns from instrument rules to target rules, specifically inflation targets.In the closed-economy Svensson-Ball model, inflation
https://www.rba.gov.au/publications/rdp/1998/pdf/rdp9806.pdf

The Yield and Market Function Effects of the Reserve Bank of Australia’s Bond Purchases

19 May 2022 RDP PDF 1938KB
yield target appears to have detrimentally affected some aspects of government bond market. ... 3.2 The yield target 8. 3.3 The bond purchase program 9.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-02.pdf

DSGE Reno: Adding a Housing Block to a Small Open Economy Model

1 Apr 2018 RDP 2018-04
Christopher G Gibbs, Jonathan Hambur and Gabriela Nodari
In particular, the Taylor-rule coefficients fall within standard ranges found in the literature, with monetary policy responding aggressively to deviations of inflation from target and a much smaller response to ... Australian monetary policy responds
https://www.rba.gov.au/publications/rdp/2018/2018-04/full.html
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Appendix A. The Model

1 Jun 1977 RDP 7702
P.D. Jonson and J.C. Taylor
z. required asset ratio for all banks. λ. 1. target rate of growth of inventories. ... λ. 2. target rate of monetary growth. λ. 3. regular growth of real award wages.
https://www.rba.gov.au/publications/rdp/1977/7702/appendix-a.html
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Estimating Inflation Expectations with a Limited Number of Inflation-indexed Bonds

8 Mar 2011 RDP PDF 479KB
Inflation expectations may also indicate over what horizon individualsbelieve that a central bank will achieve its inflation target, if at all. ... We note thatthe estimate of ρ0, the steady-state inflation rate in our model, is 2.6 per cent,which is
https://www.rba.gov.au/publications/rdp/2011/pdf/rdp2011-01.pdf

Robustness Exercises

3 Jan 2023 RDP 2022-09
Matthew Read
One concern with this sample period is that it includes a change in the monetary policy regime; the RBA began to target consumer price inflation in the early-to-mid 1990s. ... Footnotes. Estimating the model in first differences using the
https://www.rba.gov.au/publications/rdp/2022/2022-09/robustness-exercises.html
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