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Reserve Bank 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.

RBA

Next Generation of Banknotes: $50 Design Reveal

The Reserve Bank has today revealed the design of the new $50 banknote. As with the existing banknote, the new $50 features portraits of Aboriginal writer and inventor David Unaipon and the first female member of an Australian parliament, Edith Cowan. The new banknotes will be released into general circulation in October 2018. Governor Philip Lowe said: ‘Improved security and ease of...

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Launch of the New Payments Platform

Today, the Reserve Bank of Australia and its Payments System Board (PSB) welcome the public launch of the New Payments Platform (NPP). The NPP is an important addition to Australia's payments infrastructure and it will provide a platform for innovation and competition in the provision of payment services. The Reserve Bank and the PSB thank the NPP Australia Board, NPP financial institutions ...

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Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. There was a broad-based pick-up in the global economy in 2017. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. Growth has also picked up in the Asian economies, partly supported by increased international trade. The Chinese economy continues to grow solidly,...

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Appointment of Assistant Governor, Corporate Services

The Governor, Philip Lowe, is pleased to announce the appointment of Susan Woods to the position of Assistant Governor (Corporate Services) at the Reserve Bank of Australia. The Bank considered a competitive field of internal and external candidates for the role, which became vacant following the retirement of Frank Campbell in November. Ms Woods currently heads business technology services and...

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Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy have improved over 2017. Labour markets have tightened and further above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy continues to be supported by increased spending on infrastructure and property...

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Payments System Board Update: November 2017 Meeting

At its meeting today, the Payments System Board discussed a number of issues, including: Recent trends in payment card fraud and various industry initiatives aimed at tackling it. Members observed that there had been a significant increase in card-not-present fraud over recent years. Fraud is costly to merchants and other participants in the payments system and...

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Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy are continuing to improve. Labour markets have tightened and further above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property...

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ASIC and RBA Welcome the Publication of ASX BBSW Trade and Trade Reporting Guidelines

Joint media release with the Australian Securities and Investments Commission ASIC and the Reserve Bank of Australia (RBA) today welcome the publication of the ASX BBSW Trade and Trade Reporting Guidelines (ASX BBSW Guidelines). The bank bill swap rate (BBSW) is the major interest rate benchmark for the Australian dollar and is widely referenced in financial contracts. A major...

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Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy have improved. Labour markets have tightened and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property construction,...

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Appointment of the Head of International Department

Dr Bradley Jones has been appointed to the position of Head of International Department at the Reserve Bank of Australia. The Bank considered a competitive field of internal and external candidates for this role, which will become vacant following the retirement of Mr Chris Ryan later this year. Dr Jones joins the Bank from the International Monetary Fund (IMF), where he has worked in ...

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