Request for Documentations such as Graphs showing Money Supply v Dollar Buying Power
: Deborah-May: Torrens made this Freedom of Information request to Reserve Bank of Australia
Dear Reserve Bank of Australia,
I am contacting the Reserve Bank of Australia to request documentation showing graphs which compares Money Supply v Dollar Buying Power from 1959 to 2019 and then documentation showing graphs which compares Money Supply v Dollar Buying Power from 2019 to 2023.
Yours faithfully,
Deborah-May
Dear Ms Torrens,
In terms of the Freedom of Information Act 1982 Cth, I confirm receipt of
your request below seeking graphs from 1959-2019 and 2019-2023 comparing
money supply and dollar buying power and advise that processing of it
commenced on 1 September 2024.
I further advise that there are no documents in the Bank’s records that
are relevant to your request. This reflects that the Bank moved away from
a monetary targeting regime to an inflation targeting regime some decades
ago.
Although there are no documents relevant to your request, you may be
interested in the following information that could help you to create the
sort of graph you are seeking:
o The CPI
([1]https://www.abs.gov.au/statistics/econom...)
is the most obvious and consistent measure of changes in purchasing
power
o Links to inflation calculators covering the pre and post decimal eras:
[2]Inflation Calculator - Pre-Decimal | RBA [3]Inflation Calculator |
RBA
o Data on various measures of money supply are available on our website:
[4]Financial Aggregates 2024 | RBA (see ‘Monetary Aggregates - D3’ at
the bottom of the page)
Even though there are no documents in existence in relation to your
request, the FOI Act regards this answer to you as an ‘access refusal
decision’. It further requires us to advise you that you have rights to
review of the ‘decision’ if you are unsatisfied with it. Please note that
a request for review in this situation cannot change the fact that there
are no documents relevant to your request.
If you are unsatisfied with our response to your request, you can apply
for internal review of it by writing to the RBA (you can do this via email
to [5][RBA request email]). Thereafter, depending on the outcome of any review
and if you remain unsatisfied, you can apply to the Office of the
Australian Information Commissioner ([6]OAIC) to seek an Information
Commissioner review of the decision.
You also have the option of approaching the OAIC to seek an Information
Commissioner (IC) review of the decision without first applying for an
internal review but the OAIC prefers that an internal review process be
completed before they consider whether to conduct an IC review (see
[7]Apply for an Information Commissioner review | OAIC).
Yours sincerely
David Norman | Acting Secretary
RESERVE BANK OF AUSTRALIA | 8 Chifley Square, Sydney NSW 2000
p: +61 2 9551 9744 | e: [8][RBA request email] | w: [9]www.rba.gov.au