Last Thursday, Somerset College once again hosted the annual visit by the Reserve Bank of Australia (RBA) to Gold Coast Schools. Over 200 students from nine different Gold Coast Schools attended, making this one of the biggest audiences in the 15 years that this event has been organised.
The RBA has been responsible for the implementation of monetary policy in Australia since 1993. This area of economic management relates to the current topic studied by our Year 12 Economics students and the first assessment task based on the RBA’s recent interest rate decision. The information provided by the RBA on the workings of monetary policy, the current and forecast economic conditions for Australia was designed to enhance the students understanding of the environment in which the latest interest rate decision was made.
Also important is the vast range of national and international data the RBA needs to consider before the RBA decides on its policy decision. The information provided throughout this presentation was invaluable to students for their upcoming assignment and gave a unique insight into the operations of the RBA.
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