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RBA Glossary definition for EMH

EMH – Efficient markets hypothesis. The view that security or stock prices reflect all available information and it is impossible for an investor to consistently 'beat the market'.

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The Exchange Rate, Monetary Policy and Intervention

13 Feb 2003 Bulletin PDF 494KB
The first view derives from the EfficientMarkets Hypothesis (EMH). This holds thatthe price in an asset market is always at auniquely-determined equilibrium defined bythe available information on fundamentals,and agents’
https://www.rba.gov.au/publications/bulletin/1993/dec/pdf/bu-1293-3.pdf