RBA

The Reserve Bank today revealed the design of the new $100 banknote, which is the final denomination to be redesigned as part of the Next Generation Banknote Program. The banknote will be released into circulation in the second half of 2020. As with the existing banknote, the new $100 features Sir John Monash and Dame Nellie Melba. Governor Philip Lowe said, ‘Australians should feel proud of our banknotes. They are innovative and contain...

At its meeting today, the Payments System Board discussed a number of issues, including: The results of the Bank's 2019 Consumer Payments Survey. Members noted that the decline in the use of cash for consumer payments had continued, with households increasingly choosing to use electronic payment methods. At the same time, cash remains widely held for precautionary purposes and some members of the community continue to make most of their payments in cash....

Today, the Reserve Bank of Australia renewed the bilateral local currency swap agreement with the Bank of Korea. The initial swap agreement between the two central banks was signed in 2014 and has been renewed for three year periods since that time. The new agreement is for a further period of three years and can be renewed again in the future by mutual consent of both sides. The new agreement allows for the exchange of local currencies between...

At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The outlook for the global economy remains reasonable. There have been signs that the slowdown in global growth that started in 2018 is coming to an end. Global growth is expected to be a little stronger this year and next than it was last year and inflation remains low almost everywhere. One continuing source of uncertainty, despite recent progress, is...

Following discussion at the November meeting of the Payments System Board, the Bank has released an Issues Paper as the first stage of its Review of Retail Payments Regulation, which will take place over the coming year. The Issues Paper discusses and seeks stakeholder views on a number of potential issues that could be covered by the Review, including some recommendations made in reports...

The Reserve Bank of Australia hosted Governors from South Pacific Central Banks[1] on 19–20 November in Sydney on the occasion of the 34th South Pacific Central Bank Governors' Meeting[2]. Following constructive and detailed discussions, Governors agreed the following: as a collective, to prioritise an initial focus on a regional Know Your Customer (KYC) framework ...

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...