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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.

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Theory

31 Dec 1999 RDP 1999-08
Guy Debelle
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 Convergence

31 Dec 2004 RDP 2004-04
Markus Hyvonen
They initially produce results suggesting benefits from inflation targeting, namely that the seven OECD countries that adopted inflation targets experienced larger falls in inflation than the thirteen OECD countries that did ... Countries that did not
https://www.rba.gov.au/publications/rdp/2004/2004-04/inflation-convergence.html
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Conclusions

6 May 2016 RDP 2016-02
Alexander Ballantyne, Christian Gillitzer, David Jacobs and Ewan Rankin
This is consistent with inflation expectations having become better anchored at the RBA's inflation target since the adoption of inflation targeting in 1993. ... This is consistent with the presence of information rigidities, but also imperfect
https://www.rba.gov.au/publications/rdp/2016/2016-02/conclusions.html
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Price Targets or Nominal Income Targets?

1 Jul 1989 RDP 8905
Malcolm L. Edey
https://www.rba.gov.au/publications/rdp/1989/8905/price-targets-or-nominal-income-targets.html
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MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy

1 Aug 2019 RDP 2019-07
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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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Financial Regulation and the Inflation Environment

1 Dec 1997 RDP 9709
Christopher Kent and Philip Lowe
In this way, sound bank regulation makes it easier for the central bank to achieve its inflation target. ... A second issue is whether the target rate of inflation affects the critical parameters of our model.
https://www.rba.gov.au/publications/rdp/1997/9709/financial-regulation-inflation.html
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The Model

1 Sep 2000 RDP 2000-06
Chris Ryan and Christopher Thompson
The inflation target embedded in the monetary-policy rule acts as the nominal anchor and brings about nominal equilibrium in the model. ... Repeating this experiment with a monetary-policy rule that responds to the deviation of non-tradeable (rather than
https://www.rba.gov.au/publications/rdp/2000/2000-06/model.html
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Inflation Performance

31 Dec 2001 RDP 2001-02
Jacqueline Dwyer and Kenneth Leong
Furthermore, in the period since the adoption of the inflation target, it is clear that inflation has been below 2 per cent for longer than it has been above 3 per ... of having an inflation target; in fact, I cannot recall anyone even contemplating it
https://www.rba.gov.au/publications/rdp/2001/2001-02/inflation-performance.html
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Appendix B: Simple Measures of Inflation Behaviour

9 Nov 2009 RDP 2009-06
Jamie Hall and Jarkko Jääskelä
For IT countries, ‘MAD’ is the mean absolute deviation from the centre of the target band; and ‘Outside band’ is the number of quarters during which the inflation measure was outside ... then 2 per cent CPI inflation from 2004 onwards, with a
https://www.rba.gov.au/publications/rdp/2009/2009-06/appendix-b.html
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The Consequences of Low Interest Rates for the Australian Banking Sector

21 Dec 2022 RDP 2022-08
Anthony Brassil
business cycle) shocks have worked their way through the economy. With a constant inflation target, if the neutral rate is low by historical standards, the nominal policy rate will also tend ... Central bank deposits in Australia are remunerated at a
https://www.rba.gov.au/publications/rdp/2022/2022-08/full.html
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