The operation of Australian central bank controls

Authors

  • J.S.G. WILSON

DOI:

https://doi.org/10.13133/2037-3643/12712

Keywords:

Australia, credit control, Central Bank, monetary policy, authorities, financial institutions

Abstract

The article outlines the evolution of the Australian credit control mechanism up to present day; describes its modus operandi and the complex variety of instruments at disposal of the Central Bank (“special accounts”; direction related to advances in various classes and for various purposes; control of interest rates; etc.); and discusses the criticisms made by banking circles who would favour a more flexible and less “authoritarian” system. The emphasis placed on compulsion, however, is in the author’s opinion, “a necessary consequence of the relative immaturity of the Australian financial institutions which does not allow of the adoption of the more sophisticated methods of credit controls worked out for the more mature economic and banking systems”.

 

JEL: E52, E58


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How to Cite

WILSON, J. (2014). The operation of Australian central bank controls. PSL Quarterly Review, 5(20). https://doi.org/10.13133/2037-3643/12712

Issue

Vol. 5 No. 20 (1952)

Section

Editorial

License

 
 
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