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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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1.1 Our Role

19 Oct 2023 RBA Annual Report – October 2023
Our Role | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/our-role.html

2.1 Annual Performance Statement for 2022/23

19 Oct 2023 RBA Annual Report – October 2023
Annual Performance Statement for 2022/23 | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/annual-performance-statement.html

Governor's Foreword

19 Oct 2023 RBA Annual Report – October 2023
Governor's Foreword | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/governors-foreword.html

2.5 International Financial Cooperation

19 Oct 2023 RBA Annual Report – October 2023
International Financial Cooperation | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/international-financial-cooperation.html

Australia and the World Economy

26 Jun 2023 RBA Annual Report – 1976
monetary growth, including the drawing of attention in some countries to monetary aggregates as targets or indicators of performance. ... Those where earlier policies were tightest seemed to have achieved greatest success against inflation.
https://www.rba.gov.au/publications/annual-reports/rba/1976/australia-and-the-world-economy.html

The World Economy and the Australian Balance of Payments

22 Jun 2023 RBA Annual Report – 1977
economic activity towards which policies are directed should be gradual, so as not to rekindle inflation. ... Those countries using guidelines (or target ranges) for the growth of monetary aggregates mostly appear to have been reasonably close to their
https://www.rba.gov.au/publications/annual-reports/rba/1977/world-economy-and-the-aus-balance-of-payments.html

Economic Developments and Monetary Policy

20 Jun 2023 RBA Annual Report – 1979
During 1978/79, there were, in many countries, set-backs to efforts to reduce inflation. ... Inflation, after moderating for three years, stayed about the same as in 1977/78.
https://www.rba.gov.au/publications/annual-reports/rba/1979/eco-dev-mon-policy.html

Economic Developments

9 Mar 2023 RBA Annual Report – 1988
This, plus some concerns about inflation, led to a gradual tightening in U.S. ... Import prices increased by only about 1 per cent, largely because of the strengthening Australian dollar and low inflation abroad.
https://www.rba.gov.au/publications/annual-reports/rba/1988/eco-developments.html

Economic Survey

9 Mar 2023 RBA Annual Report – 1960
those of South-East Asia, where growth fell short of targets set in development plans. ... At the same time, new institutional facilities are encouraging the belief that protection from inflation is in fact possible.
https://www.rba.gov.au/publications/annual-reports/rba/1960/economic-survey.html

Our Role

27 Oct 2022 RBA Annual Report – October 2022
The flexible medium-term inflation target underpins the monetary policy framework in Australia. ... Achieving the inflation target preserves the value of money and facilitates strong and sustainable growth in the economy over the longer term.
https://www.rba.gov.au/publications/annual-reports/rba/2022/our-role.html