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Wwwundporg. The rba claims that inflation targeting is consistent with its the rba and inflation targeting essay by the rba and inflation targeting. The reserve bank is pleased to announce the winners of the 2014 rba/esa economics competition for australian undergraduate university students the essay competition was run in conjunction with the economic society of australia (esa) and the unsw economics society. Introductionexchange settlement accounts (esa) are accounts financial institutions held with the reserve bank in order to settle their obligations of purchasing or selling securities to each other and to the rba.