Question

• Discuss anything about current monetary policy since then as well in Australia . What is the current situation based on the latest data and analysis in the media?

Answer 1

In Australia, monetary policy involves using interest rates to influence employment and inflation in the nation. The Monetary Policy in Australia came into force in 1980.. Australian cash rate is low. Monetary policy in Australia is no longer effective.The Reserve Bank of Australia implements the Monetary Policy to ensure full employment and prosperity for its people and welfare of its society.

Reserve Bank of Australia is responsible for Australias monetary policy

Reserve bank of Australia (RBA) does this by using an inflation target to help keep inflation between 2-3%, .

current situation of monetary policy in Australia based on the latest data and analysis in the media:-

Current montetary policy and Economic condition in Australia.

Economic growth and GDP fall down in Australia Due to COVID-19 .

Gross domestic product (GDP) :- in Australia is expected to reach 1320.00 USD Billion by the end of 2020,

Australia's unemployment rate - 6.9%  

29,500 more people out of work. (Job lost)

The current official cash rate (according to reserve Bank of Australia (RBA) - 0.25%

Current inflation rate of Australia.:-

These are the current data of Australia current situation.

Thankyou....