RBA

From tomorrow, people will begin seeing the new $20 as it enters general circulation. The $20 is the fourth denomination in the new series of banknotes that have been released as part of an upgrade to banknote security. It follows the release of the $5, $10 and $50 banknotes over the past three years. The new $100 banknote is expected to be released in 2020. Governor Philip Lowe...

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent. While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The US–China trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and...

The Reserve Bank today released the September 2019 Assessment of the ASX Clearing and Settlement Facilities. The Assessment concludes that ASX's clearing and settlement (CS) facilities ‘observed’ or ‘broadly observed’ all relevant requirements under the Reserve Bank's Financial Stability Standards (FSS) as at 30 June 2019, with the exception of the standard relating to general business risk, which was rated as ‘partly observed’ in each...

In April 2019, the Reserve Bank conducted a survey of activity in foreign exchange and over-the-counter (OTC) interest rate derivatives markets in Australia. This was part of a global survey of 53 countries, coordinated by the Bank for International Settlements (BIS). Similar surveys have been conducted every three years since 1986. Globally, the Australian dollar remains the fifth most traded...

The Reserve Bank of Australia (RBA) and the Australian Payments Council (APC) today released the ISO 20022 Migration for the Australian Payments System – Responses and Options Paper. This follows the Issues Paper published earlier this year, which sought views on the migration of messaging used in some parts of the Australian payments system to the International Organization for...

At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent. The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans due to the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth...

At its meeting today, the Payments System Board discussed a number of issues, including: The New Payments Platform (NPP). The Board discussed progress by financial institutions in rolling out NPP payments to their customers. Members remain disappointed with the progress made by some major banks and expect their commitments to be met. Members also discussed the response by NPP Australia (NPPA) to the conclusions of the consultation recently...

Next Generation of Banknotes: Circulation Date for the New $20 Banknote Governor Philip Lowe today announced the new $20 banknote will be released into general circulation on 9 October 2019. While they will soon be shipped around the country in time for release, as with any new banknote it will take time for them to be widely available. Existing $20 banknotes can continue to be used, as all...

At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent. The outlook for the global economy remains reasonable. However, the increased uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy remain tilted to the downside. In most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. The slowdown in...

The Reserve Bank has updated its Exchange Settlement Account (ESA) Policy after determining that a number of changes were appropriate to provide more information about the eligibility requirements and application process, including the various risk management criteria applicants would be expected to meet. The changes seek to ensure that the ESA Policy continues to promote competition in the market for payment services by providing access to ESAs for...