CENTRAL BANK OPERATIONS WORLDWIDE
* Reserve Bank of Australia underneath proposed adjustments – twin mandate of value stability (or controlling inflation) and full employment; a brand new legislated overarching goal of the “economic prosperity and welfare of the Australian people”; retaining an inflation goal of two to a few per cent.
* RBNZ (New Zealand) – Price stability and most employment mandate; inflation goal of between one and three per cent over the medium time period.
* Fed (United States) – Promoting most employment, steady costs and reasonable long-term rates of interest; common inflation of two per cent.
* Bank of England (UK) – Price stability and supporting the federal government’s financial coverage; inflation goal of two per cent always.
* Bank of Canada – Preserve the worth of cash by retaining inflation low, steady and predictable; inflation goal of two per cent, the midpoint of a one to a few per cent goal vary.
* Bank of Korea (South Korea) – To contribute to the sound growth of the nationwide financial system by pursuing value stability via the formulation and implementation of environment friendly financial coverage; inflation goal of two per cent over the medium time period, whereas contemplating the dangers of persistently low or excessive inflation.
(Source: RBA Review)
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