Journal Article

Australia's approach to monetary policy

Abstract: According to Australia's Reserve Bank Act, the central bank's broad policy objectives include maintaining the stability of the currency, full employment, and the economic prosperity and welfare of the people of Australia. In 1993 the Reserve Bank of Australia adopted a specific, and thus transparent, inflation target as its operating objective; it aims to keep overall inflation between 2 percent and 3 percent on average over the business cycle.

Keywords: Monetary policy - Australia; Reserve Bank of Australia; Banks and banking, Central - Australia;

Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Economic Review

Publication Date: 2002

Issue: Q 2

Pages: 13-17