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Last edited by JC Kotisow (talk | contribs) 3 months ago. (Update) |
The monetary policy of Australia is is the set of policies which the Reserve Bank of Australia follows
Role of Reserve Bank of Australia
editThe Reserve Bank of Australia (RBA) is the central bank of Australia and is wholly owned by the Commonwealth of Australia. The RBA is primarily responsible for formulating and implementing monetary policy, which includes setting the official cash rate to influence interest rates in the economy.[1] Additionally, it plays a role in influencing the exchange rate of the Australian Dollar (AUD) through its monetary policy decisions.[2] Under its enabling legislation, the Reserve Bank Act 1959, the bank's responsibilities encompass promoting financial stability, issuing banknotes, providing banking services to the government, managing Australia's foreign reserves, setting payments system policy, and operating the high-value payments system.[1][3] The RBA is overseen by two boards: the Reserve Bank Board and the Payments System Board.[4] The Reserve Bank Board makes monetary policy decisions in terms of the cash rate and is discussed through 11 meetings per year on the first Tuesday of each month, except January, to assess economic conditions and decide on interest-rate policy.[5] These decisions are announced in the following days and implemented by buying and selling short-term government debt in the open market.[4][6] The Payments System Board is responsible for the Reserve Bank's payments system policy, including policy in relation to clearing and settlement (CS) facilities.[7] Additionally, the board oversees risk in the financial system, competition in the payment service market, and promoting an efficient payment system.[4]
Monetary policy mandate
editPolicy objectives
editPolicy tools and implementation
editCash rate target
editExchange settlement balances
editOpen market operations
editInterest rate corridor
editMoney supply
editStructure of financial institutions
editReserve Bank of Australia (RBA)
editAustralian Treasury
editCommercial banks
editMoney creation process
editKey monetary policy challenges and uncertainties
editPerspectives on the Reserve Bank of Australia
editAchievements
editCriticisms
editAuditing
editFulfillment of economic goals through monetary policy
editHistorical context and economic crises
editCauses of economic downturns
editPublic perceptions and confusion
editGovernment intervention
editReserve requirements
editMonetary policy and public debt
editRole of the private sector
editReferences
edit- ^ a b "What is Monetary Policy". Reserve Bank of Australia.
- ^ "The Exchange Rate and the Reserve Bank's Role in the Foreign Exchange Market". Reserve Bank of Australia. 1 July 2020. Retrieved 21 September 2023.
- ^ "Functions and Objectives | Reserve Bank of Australia Annual Report – 2014". Reserve Bank of Australia Annual Report. 2014.
- ^ a b c Chen, James (24 October 2022). "Reserve Bank of Australia (RAB): What it is, History". Investopedia. Retrieved 21 September 2023.
- ^ "Reserve Bank Board". Reserve Bank of Australia. Retrieved 21 September 2023.
- ^ "About Monetary Policy". Reserve Bank of Australia. This article incorporates text from this source, which is available under the CC BY 4.0 license.
- ^ "The Role of the Payments System Board". Reserve Bank of Australia. Retrieved 21 September 2023.