The Reserve Bank of Australia (RBA) is the central bank for Australia. The Reserve Bank of Australia took over the central banking operations for Australia from the Commonwealth Bank. The RBA sets the monetary policy for Australia.
Like many central banks, the Reserve Bank of Australia is charged with keeping the Australian dollar stable while also keeping unemployment low and the economy healthy. The RAB uses inflation targeting and interest rates to balance out these sometimes competing goals. Compared to other central banks, however, the RAB is perceived as less active in guiding the value of the Australian dollar, which is heavily influenced by commodity prices.
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