Reserve Bank of Australia, Minutes February 20, 2018

Reserve Bank of Australia, RBA, Minutes

Reserve Bank of Australia, RBAThe Minutes of the Monetary Policy Meeting on February 5 and 6, 2018 and released by the Reserve Bank of Australia (RBA), on February 20, 2018 (about 2 weeks after the Meeting). You can download the minutes (in pdf format) at the end of the article.

The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. It has to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a robust financial system and efficient payments system, and issuing the nation's banknotes.

The RBA provides specific banking services as required by the Australian Government and its agencies, and to many overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.

The Reserve Bank of Australia is responsible for formulating and implementing monetary policy. Monetary policy decisions involve setting the interest rate on overnight loans in the money market. Other interest rates in the economy are influenced by this interest rate to varying degrees so that the behaviour of borrowers and lenders in the financial markets is affected by monetary policy (though not only by monetary policy).

The principal medium-term objective of monetary policy is to control inflation, so an inflation target is thus the centrepiece of the monetary policy framework. The Governor and the Treasurer have agreed that the appropriate target for monetary policy is to achieve an inflation rate of 2–3 percent, on average, over time.

If you are interested, you can find all the previous Minutes on the Reserve Bank of Australia (RBA). You also find the Monetary Policy Decisions. You can check the meetings scheduled for 2018 of the world's leading Central Banks and the last Central Banks reports.

pdf, format, file, download  Minutes February 20, 2018


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