Question:

What are objectives of RBA monetary policy?

by Guest8431  |  12 years, 9 month(s) ago

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Can someone tell me that what are objectives of Reserve Bank of Australia monetary policy? If someone knows about it please let me know.

 Tags: monetary, Objectives, policy, RBA

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  1. Guest8680
    The goals of monetary policy are set out in the Act, which requires the Reserve Bank Board to conduct monetary policy in a way that, in the Reserve Bank Board's opinion, will best contribute to:
    a. the stability of the currency of Australia;
    b. the maintenance of full employment in Australia; and
    c. the economic prosperity and welfare of the people of Australia.
    The first two objectives lead to the third, and ultimate, objective of monetary policy and indeed of economic policy as a whole. These objectives allow the Reserve Bank Board to focus on price (currency) stability while taking account of the implications of monetary policy for activity and, therefore, employment in the short term. Price stability is a crucial precondition for sustained growth in economic activity and employment.

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