What is the duty of the Reserve Bank of Australia (RBA)?

Question

BlackTom AI · Accepted Answer

The Reserve Bank Act (1959) explicitly sets out the Bank’s objectives: to contribute to the stability of the currency of Australia, to the maintenance of full employment, and to the economic prosperity and welfare of the people of Australia. These three points are the core statutory duties.

1. Relevant knowledge points and concepts
- The Reserve Bank of Australia (RBA) is Australia’s central bank.  
- The Reserve Bank Act defines its monetary policy objectives: price/currency stability, full employment, and the economic prosperity and welfare of the Australian people.  
- In practice the RBA uses interest-rate decisions and other monetary tools to pursue these objectives (e.g., targeting low and stable inflation to preserve currency stability, and influencing demand to support employment and economic welfare).

2. Step-by-step reasoning
- Option (a) states “contribute to the stability of the currency of Australia” — this matches the Act.  
- Option (b) states “contribute to the maintenance of full employment in Australia” — this also matches the Act.  
- Option (c) states “contribute to the economic prosperity and welfare of the people of Australia” — again directly from the Act.  
- Because options a, b and c are each correct components of the RBA’s duty, the only complete answer is the option that includes all three.

3. Calculations / intermediate steps
- No numerical calculation is required; the logical combination of the three statutory objectives is the reasoning step.

4. Why the correct answer is correct
- The Reserve Bank Act lists all three objectives as the RBA’s duty. Therefore the choice that aggregates all three responsibilities is the accurate representation of the RBA’s duty.

5. Why other options are incorrect
- Option (a) is incomplete because it omits employment and welfare objectives.  
- Option (b) is incomplete because it omits currency stability and economic welfare.  
- Option (c) is incomplete because it omits currency stability and employment.

6. Conclusion
- The correct answer is d. All of the above — this matches the provided authoritative answer.

What is the duty of the Reserve Bank of Australia (RBA)?单项选择题

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