RBA

At its meeting today, the Board decided to: maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent maintain the target of 10 basis points for the April 2024 Australian Government bond continue to purchase government securities at the rate of $4 billion a week until at least mid February 2022. The Delta outbreak has interrupted the recovery of the Australian economy and GDP is expected...

The Reserve Bank today released the 2021 Assessment of the ASX Clearing and Settlement Facilities. The Bank concluded that ASX's clearing and settlement (CS) facilities have conducted their affairs in a way that promotes overall stability in the Australian financial system. However, ASX will need to place a high priority on addressing recommendations related to operational risk and margin standards. In November 2020, ASX experienced an...

The Reserve Bank is introducing new eligibility criteria for securities to be accepted as collateral in the Reserve Bank's market operations. Floating rate notes (FRNs) and marketed asset-backed securities issued on or after 1 December 2022 that reference BBSW must include robust fallback provisions All self-securitisations, regardless of the date of issue, must include robust fallback provisions. The Reserve Bank will engage directly with...

At its meeting today, the Board decided to: maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent maintain the target of 10 basis points for the April 2024 Australian Government bond purchase government securities at the rate of $4 billion a week and to continue the purchases at this rate until at least mid February 2022. Prior to the Delta outbreak the...

Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. System aims to allow direct transactions between institutions, reducing costs and increasing speed. Results will inform development of global and regional platforms and support G20 roadmap for improving cross-border...

Bradley Jones, Head of Economic Analysis, talks about the economic effects of COVID-19 on the Australian economy and how the economy has recovered. (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 other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter:...

Tim Atkin and Isabel Hartstein discuss some of the factors that have driven the Australian dollar over recent years. (This webinar was presented as part of the RBA’s 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 other social media channels to receive updates: Facebook: https://www.facebook.com/reservebankau/ Twitter:...

The Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) (the regulators) are today publishing a summary of an independent expert review of the ASX Trade Refresh project (see 21-220MR). The review was conducted by IBM Australia Limited. On 16 November 2020, an outage occurred shortly after a major upgrade to ASX's equity trading platform, ASX Trade. The regulators view operational incidents of this nature with...

At its meeting today, the Payments System Board discussed a number of issues, including: The Bank's Review of Retail Payments Regulation. The Board reviewed responses to the Consultation Paper published in May, particularly relating to dual-network debit cards and least-cost routing, interchange fees and the ‘no-surcharge’ rules of buy now, pay later providers. The Board expects to publish a Conclusions Paper and final...

Our economist, Matthew Larkin, provides an update on the Australian economy. Statement of Monetary Policy (August 2021) – https://www.rba.gov.au/publications/smp/2021/aug/ Video Explainers (Monetary Policy) – https://www.rba.gov.au/education/resources/videos.html#monetary-policy_video-explainers/ Monetary Policy Decision (Aug 2021) – https://www.rba.gov.au/media-releases/2021/mr-21-14.html Resources for teachers and students are available on our website:...