The Bank's mandate is to keep inflation averaging 2 to 3 per cent over the medium term. This does not mean that it is never to exceed 3 per cent or fall below 2 per cent – it clearly has done both during the inflation targeting period.
It is relatively standard practice to define money according to its ability to do each of the following three things: money can be used for transactions – it facilitates the exchange of goods, services or assets thereby avoiding the substantial costs associated with barter money is a store of value – it's worth does not fluctuate wildly, nor does it degrade rapidly over time, and  https://www.rba.gov.au/speeches/2018/sp-ag-2018-09-19.html  1/16  20/09/2018  Money – Born of Credit?