The Board of the Reserve Bank of Australia has stated that they focus on which of the following as their main goal of monetary policy?

Question

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The Board of the Reserve Bank of Australia has stated that their main goal of monetary policy is low inflation. This is known as their "inflation targeting framework", where they aim to keep inflation within a target range of 2-3% over the medium term. While economic growth and high labour force participation rate are also important considerations, they are not the main goal of monetary policy for the Reserve Bank of Australia. Stability of financial markets is also important, but this is more closely related to financial regulation and supervision rather than monetary policy.

The Board of the Reserve Bank of Australia Has Stated