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Reserve Bank Australia

Reserve Bank of Australia

The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

Videos by Reserve Bank of Australia

Summary of Current Economic Conditions – data as at 5 November 2020

Gigi Lovicu provides an update on the Australian economy.

Statement of Monetary Policy – November 2020: https://www.rba.gov.au/publications/smp/2020/nov/
Phil Lowe Speech – Today’s Monetary Policy Decision (3 November): https://www.rba.gov.au/speeches/2020/sp-gov-2020-11-03.html
Illustrator – Unconventional Monetary Policy:
https://www.rba.gov.au/education/resources/illustrators/pdf/unconventional-monetary-policy.pdf

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Calculating Inflation

Stefano Tornielli di Crestvolant talks about the calculation of inflation.

Introduction to Inflation video: https://youtu.be/5EVwXhG25p0
Measures of Inflation video: https://youtu.be/NxTycaLY3oE
Inflation and its Measurement explainer: https://www.rba.gov.au/education/resources/explainers/inflation-and-its-measurement.html
Inflation Explorer: https://www.rba.gov.au/education/resources/digital-interactives/inflation-explorer/

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Measures of Inflation

Stefano Tornielli di Crestvolant talks about the different ways of measuring inflation.

Introduction to Inflation video: https://youtu.be/5EVwXhG25p0
Calculating Inflation video: https://youtu.be/XJlx5VvlveQ
Inflation and its Measurement explainer: https://www.rba.gov.au/education/resources/explainers/inflation-and-its-measurement.html
Australia’s Inflation Target explainer: https://www.rba.gov.au/education/resources/explainers/australias-inflation-target.html

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Introduction to Inflation

Stefano Tornielli di Crestvolant introduces the concept of inflation.

Calculating Inflation video: https://youtu.be/XJlx5VvlveQ
Measures of Inflation video: https://youtu.be/NxTycaLY3oE
Inflation and its Measurement explainer: https://www.rba.gov.au/education/resources/explainers/inflation-and-its-measurement.html
Inflation Target explainer: https://www.rba.gov.au/education/resources/explainers/australias-inflation-target.html
Introduction to Monetary Policy video: Forthcoming
Reading and Interpreting Charts – Introduction: https://youtu.be/lKTXeP8ITvM
Reading and Interpreting Charts – Examples: https://youtu.be/5rPXwaa05bY

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Topical Talk: Monetary Policy in 2020 – as at 24 August 2020

Andrea Brischetto, Deputy Head of Domestic Markets, talks about the effects of COVID-19 on the Australian economy and our response to it as at 24 August 2020. (This was presented as part of the Topical Talk series, which supports teacher professional development.)

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Topical Talk: Monetary Policy in 2020 – as at 24 August 2020

Andrea Brischetto, Deputy Head of Domestic Markets, talks about the effects of COVID-19 on the Australian economy and our response to it as at 24 August 2020. (This was presented as part of the Topical Talk series, which supports teacher professional development.) Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our …

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Summary of Current Economic Conditions – data as at 7 August 2020

Natasha Cassidy, Economic Analysis, provides an update on the Australian economy.

Unconventional Monetary Policy Explainer: https://www.rba.gov.au/education/resources/explainers/unconventional-monetary-policy.html
August 2020 Statement on Monetary Policy: https://www.rba.gov.au/publications/smp/2020/aug/

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Summary of Current Economic Conditions – data as at 7 August 2020

Natasha Cassidy, Economic Analysis, provides an update on the Australian economy. Unconventional Monetary Policy Explainer: https://www.rba.gov.au/education/resources/explainers/unconventional-monetary-policy.html August 2020 Statement on Monetary Policy: https://www.rba.gov.au/publications/smp/2020/aug/ Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter: https://www.twitter.com/rbainfo/ Instagram: https://www.instagram.com/reservebankau/ LinkedIn: https://www.linkedin.com/company/rese…

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The Expenditure Multiplier

Gian-piero Lovicu (Gigi) talks about the principles of the expenditure multiplier.

Economic Growth Explainer: https://www.rba.gov.au/education/resources/explainers/economic-growth.html
Aggregate Demand and Aggregate Supply video: https://youtu.be/OwDBKiLy1BI
GDP video: https://www.youtube.com/watch?v=w1hvH…

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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The Expenditure Multiplier

Gian-piero Lovicu (Gigi) talks about the principles of the expenditure multiplier. Economic Growth Explainer: https://www.rba.gov.au/education/resources/explainers/economic-growth.html Aggregate Demand and Aggregate Supply video: https://youtu.be/OwDBKiLy1BI GDP video: https://www.youtube.com/watch?v=w1hvH… Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter: https://www.twitter.com/rbainfo/ Instagram: https://www.instagram.com/reservebankau/ LinkedIn: https://www.linkedin.com/company/rese…

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Aggregate Demand and Aggregate Supply

Gian-piero Lovicu (Gigi) talks about Aggregate Demand and Aggregate Supply.

Economic Growth Explainer: https://www.rba.gov.au/education/resources/explainers/economic-growth.html
Productivity Explainer: https://www.rba.gov.au/education/resources/explainers/productivity.html
GDP video: https://www.youtube.com/watch?v=w1hvHEINnVA
The Expenditure Multiplier video: https://youtu.be/HDsiysucvBc

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

Follow our other social media channels to receive updates:
Facebook: https://www.facebook.com/reservebankau/
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Aggregate Demand and Aggregate Supply

Gian-piero Lovicu (Gigi) talks about Aggregate Demand and Aggregate Supply. Economic Growth Explainer: https://www.rba.gov.au/education/resources/explainers/economic-growth.html Productivity Explainer: https://www.rba.gov.au/education/resources/explainers/productivity.html GDP video: https://www.youtube.com/watch?v=w1hvHEINnVA The Expenditure Multiplier video: https://youtu.be/HDsiysucvBc Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter: https://www.twitter.com/rbainfo/ Instagram: https://www.instagram.com/reservebankau/ LinkedIn: https://www.linkedin.com/company/rese…

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Reading and Interpreting Charts – Introduction

Reading and Interpreting Charts – Examples: https://www.youtube.com/watch?v=5rPXwaa05bY

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

Follow our other social media channels to receive updates:

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Reading and Interpreting Charts – Introduction

Reading and Interpreting Charts – Examples: https://www.youtube.com/watch?v=5rPXwaa05bY Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter: https://www.twitter.com/rbainfo/ Instagram: https://www.instagram.com/reservebankau/ LinkedIn: https://www.linkedin.com/company/rese…

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Reading and Interpreting Charts – Examples

Reading and Interpreting Charts – Introduction: https://youtu.be/lKTXeP8ITvM
Statement on Monetary Policy: https://www.rba.gov.au/publications/smp/

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

Follow our other social media channels to receive updates:

Facebook: https://www.facebook.com/reservebankau/
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Reading and Interpreting Charts – Examples

Reading and Interpreting Charts – Introduction: https://youtu.be/lKTXeP8ITvM Statement on Monetary Policy: https://www.rba.gov.au/publications/smp/ Resources for teachers and students are available on our website: https://www.rba.gov.au/education/ Follow our other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter: https://www.twitter.com/rbainfo/ Instagram: https://www.instagram.com/reservebankau/ LinkedIn: https://www.linkedin.com/company/rese…

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Measuring Economic Variables – Nominal v Real

Gian-piero Lovicu (Gigi) explains the difference between nominal and real measures of economic variables.

Explainer on Economic Growth: https://www.rba.gov.au/education/reso…

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Measuring Economic Variables – Nominal v Real

Gian-piero Lovicu (Gigi) explains the difference between nominal and real measures of economic variables. Explainer on Economic Growth: https://www.rba.gov.au/education/reso… Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Gross Domestic Product (GDP)

Gian-piero Lovicu (Gigi) talks about the different ways of measuring GDP.

Measuring Economic Variables – Nominal v Real: https://www.youtube.com/watch?v=Q-1X8…
Explainer on Economic Growth: https://www.rba.gov.au/education/reso…

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Gross Domestic Product (GDP)

Gian-piero Lovicu (Gigi) talks about the different ways of measuring GDP. Measuring Economic Variables – Nominal v Real: https://www.youtube.com/watch?v=Q-1X8… Explainer on Economic Growth: https://www.rba.gov.au/education/reso… Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Why we are buying government bonds in response to COVID-19

We have been buying government bonds to help lower borrowing costs for Australian households and businesses, to support people dealing with the economic impact of the COVID-19 health crisis.

Follow our other social media channels to receive updates:

Facebook – https://www.facebook.com/reservebankau/
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LinkedIn – https://www.linkedin.com/company/reserve-bank-of-australia/

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Why we are buying government bonds in response to COVID-19

We have been buying government bonds to help lower borrowing costs for Australian households and businesses, to support people dealing with the economic impact of the COVID-19 health crisis. Follow our other social media channels to receive updates: Facebook – https://www.facebook.com/reservebankau/ Twitter – https://www.twitter.com/rbainfo/ Instagram – https://www.instagram.com/reservebankau/ LinkedIn – https://www.linkedin.com/company/reserve-bank-of-australia/

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The Labour Market and Unemployment

Gian-piero Lovicu (Gigi) talks about the labour market and unemployment.

Explainer – Unemployment: Its Measurement and Types – https://www.rba.gov.au/education/reso…

Illustrator – Unconventional Monetary Policy in Australia – https://www.rba.gov.au/education/reso…

Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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The Labour Market and Unemployment

Gian-piero Lovicu (Gigi) talks about the labour market and unemployment. Explainer – Unemployment: Its Measurement and Types – https://www.rba.gov.au/education/reso… Illustrator – Unconventional Monetary Policy in Australia – https://www.rba.gov.au/education/reso… Resources for teachers and students are available on our website: https://www.rba.gov.au/education/

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Graduate Careers

Utkarsh and Jessie have completed their first 12 months in our grad program and they explain why they chose to work here and what their experience has been like to date.

Find out more about our Graduate Program – https://bit.ly/31GH8eX. Applications open on 12 February 2020 and close on 11 March 2020.

Follow our other social media channels to receive updates:

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Graduate Careers

Utkarsh and Jessie have completed their first 12 months in our grad program and they explain why they chose to work here and what their experience has been like to date. Find out more about our Graduate Program – https://bit.ly/31GH8eX. Applications open on 12 February 2020 and close on 11 March 2020. Follow our other …

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Claiming bushfire damaged banknotes

We can help you claim value for banknotes that have been damaged in the bushfires. Visit our website to find out how to submit a claim http://banknotes.rba.gov.au/damaged-banknotes/redeeming-damaged-banknotes/

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Claiming bushfire damaged banknotes

We can help you claim value for banknotes that have been damaged in the bushfires. Visit our website to find out how to submit a claim http://banknotes.rba.gov.au/damaged-banknotes/redeeming-damaged-banknotes/

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Role and Functions

The Reserve Bank of Australia is Australia’s central bank. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation’s banknotes. The Bank also manages Australia’s foreign exchange reserves and provides banking services to the government.

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Role and Functions

The Reserve Bank of Australia is Australia’s central bank. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an inflation target, working to maintain a strong financial system and efficient payments …

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Monetary Policy

The Reserve Bank of Australia is responsible for Australia’s monetary policy. Its monetary policy objective is defined as an ‘inflation target’ of consumer price inflation of 2–3 per cent, on average, over the medium term. To meet this, the Bank influences interest rates in the economy by setting a target for ‘the cash rate’. Influencing interest rates in this way affects the behaviour of borrowers and lenders, economic activity and ultimately the rate of inflation.

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Monetary Policy

The Reserve Bank of Australia is responsible for Australia’s monetary policy. Its monetary policy objective is defined as an ‘inflation target’ of consumer price inflation of 2–3 per cent, on average, over the medium term. To meet this, the Bank influences interest rates in the economy by setting a target for ‘the cash rate’. Influencing …

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New $50 design animation

Delve into the design of the new $50 and explore the special relationship between the design elements and David Unaipon and Edith Cowan.

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New $50 design animation

Delve into the design of the new $50 and explore the special relationship between the design elements and David Unaipon and Edith Cowan.

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Australian Banknote Lifecycle

Ever wondered how a banknote is born and lives its life before eventually being reincarnated?

This animation explains the life cycle of a banknote, from design and printing, through quality control and circulation among the public before finally being recycled.

Find out more at banknotes.rba.gov.au.

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Australian Banknote Lifecycle

Ever wondered how a banknote is born and lives its life before eventually being reincarnated? This animation explains the life cycle of a banknote, from design and printing, through quality control and circulation among the public before finally being recycled. Find out more at banknotes.rba.gov.au.

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The Future of Work

Watch the Head of Economic Analysis, Alex Heath, talk about the changing nature of the Australian workforce and the skills that will be highly valued in the future. Additional economic education resources are available at https://www.rba.gov.au/education

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What is Economics?

What is economics? What do economists do? This video answers these questions, and more. Additional economic education resources are available at https://www.rba.gov.au/education

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New Banknotes: From Concept to Circulation

Michael Andersen, Head of Note Issue of the Reserve Bank of Australia, explains the complex process of developing a new banknote, from the selection of security features, through to design, trialling and testing, and finally production. More information is available at http://banknotes.rba.gov.au

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Dollar Bill – The Decimal Currency Jingle

‘Out with the old and in with the new’ (Lyrics by Ted Roberts) In come the dollars and in come the cents to replace the pounds and the shillings and the pence. Be prepared folks when the coins begin to mix on the 14th of February 1966. Clink go the cents folks clink, clink, clink. …

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100 Seconds with Dollar Bill

Kevin Golsby was the voice of Dollar Bill. Kevin went on to become one of Australia’s most memorable voices and a popular entertainer. Bank staff met up with Kevin Golsby to seek his recollections – fifty years on – of the introduction of decimal currency.

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Australian Banknotes Q&A

This video answers some common questions about the new Australian banknote series. More information is available at http://banknotes.rba.gov.au

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Graduate Careers at the Bank – Nick’s Story

Nicholas is a Financial Accountant in the Finance Department. Nicholas discusses some of the opportunities he has had in his role so far, including coordinating the Bank’s strategic planning process. He explains that one of the things that attract him to apply for the graduate program was the Bank’s reputation both locally and internationally.

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Graduate Careers at the Bank – Michelle’s Story

Michelle is an Economist working in the Economic Analysis Department. She discusses that one of the things she values most about working at the Reserve Bank is the diverse range of work she has had the opportunity to work on. Michelle also explains that graduates can expect the Bank to be a challenging and stimulating …

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Graduate Careers at the Bank – Alexandra’s Story

Alexandra is an Economist working in the Economic Analysis Department. Alexandra explains that one of the most rewarding aspects of her role is seeing the economics she studied at university come to life in the workplace. She also talks about the opportunities she has had to complete both the Cadetship and Graduate Programs at the …

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Australian Banknotes – Stakeholder Engagement

The Reserve Bank has a responsibility to ensure confidence in Australia’s banknotes as a secure method of payment and a store of wealth. Read the full Bulletin article: http://www.rba.gov.au/publications/bulletin/2015/sep/bu-0915-1a.html

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Polymer Banknotes Launch

When Australian banknotes were first issued between 1992 and 1996, a series of television commercials was developed to introduce the new banknotes to the public. These commercials, presented by well-known scientific and public figures from the time, provide information about the design and security features of each denomination and the notable Australians they feature.

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Planned for Progress

This film documents the construction of the Reserve Bank’s Head Office building in Martin Place, along with developments in Sydney in the early 1960s.

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Knighthood of Sir Denison Miller, 1920

Denison Miller was the first Governor of the Commonwealth Bank, from which the Reserve Bank of Australia has evolved. This silent movie shows Denison Miller receiving congratulations for his knighthood. It was invested by the visiting Prince of Wales on 17 June 1920 in recognition of Denison Miller’s personal achievement as Governor as well as …

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Decimal Currency

In the lead up to the introduction of decimal currency there was a concerted program to educate the public. This included extensive media coverage, including the famous Dollar Bill campaign. The Lyrics below were sung to the tune of ‘Click Go the Shears’. In come the dollars and in come the cents to replace the …

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Reserve Bank of Australia – Payments Settlements

The Reserve Bank manages the settlement of interbank payments in Australia through the operation of RITS (the Reserve Bank Information & Transfer System) and the conduct of Exchange Settlement Accounts. RITS settles around $170 billion high value payments each day. The Bank also settles its own transactions, and those of around 50 overseas central banks …

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The Reserve Bank of Australia – Banking

The Reserve Bank provides a range of banking services to the Australian Government and its agencies, overseas central banks, and official institutions. Principal amongst these is management of the Government’s core accounts. The Reserve Bank also provides transactional banking facilities to various Australian Government agencies.

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Reserve Bank of Australia – Currency

The Reserve Bank is responsible for all aspects of the production and issuance of Australian banknotes. It works to ensure that the public has confidence in their banknotes as a means of payment and a secure store of wealth. Australia’s banknotes are printed on a polymer (plastic) material and incorporate a range of security features …

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Reserve Bank of Australia – Payments Policy

A safe, competitive and efficient payments system is essential to support the day-to-day business of the Australian economy. The Payments System Board of the Reserve Bank has a mandate to contribute to promoting efficiency and competition in the payments system, and the overall stability of the financial system.

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Reserve Bank of Australia – Business Liaison Program

The Reserve Bank of Australia maintains offices in Perth, Brisbane, Melbourne and Adelaide. Economists in these offices conduct liaison with individual firms and agencies, in the private and public sector, in order to analyse economic conditions throughout Australia. Their regional economic intelligence forms part of the assessment of the Australian economy that influences the Bank’s …

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Reserve Bank Functions – Financial Stability

Maintaining the stability of the financial system is a longstanding responsibility of the Reserve Bank. A stable financial system is one in which financial institutions, markets and market infrastructures facilitate the smooth flow of funds between savers and investors. This helps to promote growth in economic activity.

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Reserve Bank of Australia – Domestic Market Operations

Note: The RBA changed the time of its first round of Open Market Operations (OMO) from 9.30–9.45 am to 9.20–9.35 am on Monday 27 November 2017. As part of its responsibility for monetary policy, the Reserve Bank Board sets a target for the cash rate. This is the rate at which banks borrow from and lend to …

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Reserve Bank of Australia – International Market Operations

The Reserve Bank undertakes transactions in the foreign exchange market on a regular basis. Many of these transactions arise out of the provision of foreign exchange services to clients, with the Australian Government the Bank’s largest client. Transactions are also undertaken in managing Australia’s foreign currency reserves. Foreign currency reserve assets are held on the …

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Reserve Bank of Australia – Monetary Policy Framework

The Reserve Bank of Australia is responsible for Australia’s monetary policy. Its monetary policy objective is defined as an ‘inflation target’ of consumer price inflation of 2–3 per cent, on average, over the medium term. To meet this, the Bank influences interest rates in the economy by setting a target for ‘the cash rate’. Influencing …

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Reserve Bank – Role and Functions

The Reserve Bank of Australia is Australia’s central bank. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an inflation target, working to maintain a strong financial system and efficient payments …

View more