RESERVE BANK OF AUSTRALIA Policy Objective: The policy objective is a target for consumer price inflation, of 2-3 per cent per annum. Monetary policy aims to achieve this over the medium term and, subject to that, to encourage the strong and sustainable growth in the economy. Controlling inflation preserves the value of money. In the long run, this is the principal way in which monetary policy can help to form a sound basis for long-term growth in the economy.
The chart above shows year/year and the CPI target of 2% to 3% for this price index.
The chart above shows the current three month bank bill rate, the current
Cash Rate target and where the futures markets are
currently trading three month rates for the specified periods in the
future. The chart also includes comparisons of where these futures
rates were trading most recently, a week ago and four weeks ago.
The chart provides a view on where the markets feel Australian interest
rates are headed.
The chart above shows the Australian overnight rate target, three month bank bills, and
two- and ten-year bond yields over the past twelve months.
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