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Pacific central bankers prioritise capital flows and climate change

Summary:
Joint statement from the South Pacific Governor's Meeting[*] At a meeting in Auckland yesterday, the Governors of the nine central banks agreed a vision for the group to ‘collaborate to promote the prosperity and economic wellbeing of our member nations’. The governors started a project to explore how to improve access to, and lower the cost of, capital flows and international payments and settlements within the Pacific region. The governors also agreed to involve the Network for Greening the Financial System (NGFS) in an event in November that will look at the impact of climate change on the Pacific’s financial systems and our response to it. The NGFS is an

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Joint statement from the South Pacific Governor's Meeting[*]

At a meeting in Auckland yesterday, the Governors of the nine central banks agreed a vision for the group to ‘collaborate to promote the prosperity and economic wellbeing of our member nations’.

The governors started a project to explore how to improve access to, and lower the cost of, capital flows and international payments and settlements within the Pacific region.

The governors also agreed to involve the Network for Greening the Financial System (NGFS) in an event in November that will look at the impact of climate change on the Pacific’s financial systems and our response to it. The NGFS is an international group of central banks co-ordinating work on climate change and fostering investment in green technology. The event will be held alongside the 34th Pacific Central Bank Governors' meeting in Sydney in November.

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.

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