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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

Inflation Targeting in a Small Open Economy

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1998/9807.html

Conclusion

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
Transmission of policy via the exchange rate works with greater speed, reducing the control lag with which the central bank is able to achieve its inflation target. ... An inflation target with a more medium-term perspective would be one way of avoiding
https://www.rba.gov.au/publications/rdp/1998/1998-07/conclusion.html

Introduction

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
Countries that currently have some form of inflation target include Australia, Canada, Finland, New Zealand, Spain, Sweden and the United Kingdom. ... In practice, inflation targets are accompanied by concern for output stability and perhaps
https://www.rba.gov.au/publications/rdp/1998/1998-07/introduction.html

Appendix C: Further Results

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
RDP 9807: Inflation Targeting in a Small Open Economy Appendix C: Further Results. ... Aggregate inflation target. Non-traded inflation target. Model A – backward-looking. 11.47.
https://www.rba.gov.au/publications/rdp/1998/1998-07/appendix-c.html

References

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
9407. Grenville, S. (1997), ‘The Evolution of Monetary Policy: From Money Targets to Inflation Targets’, in P. ... 157–199. Svensson, L.E.O. (1996), ‘Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets’, NBER Working
https://www.rba.gov.au/publications/rdp/1998/1998-07/references.html

Results for Model A

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
Download the Paper 422. KB. We consider two scenarios, one based on a flexible aggregate inflation target, and one based on a flexible non-traded inflation target (that is, μ. ... Δi. r. Δe. q. Shock. Aggregate inflation targeting. Unconditional. 2.96.
https://www.rba.gov.au/publications/rdp/1998/1998-07/results-for-model-a.html

Inflation Targeting in an Open Economy

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
The direct effect implies that the central bank can target inflation with a one-period lag. ... An aggregate inflation target may induce excessive volatility in the interest rate to offset exchange rate shocks.
https://www.rba.gov.au/publications/rdp/1998/1998-07/inflation-targeting-in-an-open-economy.html

Theoretical Model

1 Jul 1998 RDP 9807
Nargis Bharucha and Christopher Kent
π. and μ. N. reflect the central bank's preferences for aggregate or non-traded inflation being at target (the target is set to zero for simplicity). ... We present two sets of results, one where the central bank targets aggregate inflation, and one
https://www.rba.gov.au/publications/rdp/1998/1998-07/theoretical-model.html