The Reserve Bank wears its badge as an inflation-targeting central bank with pride. Its mandate since joining the other big central banks targeting inflation in the early 1990s has been straightforward: "Maintain a stable currency, full employment, and the economic prosperity and welfare of the Australian people." "It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes," the RBA says of itself on its webpage. The banknote printing business is pretty good now the bribery ... (full story)