Category Archives: Finance
Statement by Philip Lowe, Governor: Monetary Policy Decision
Source link – Reserve Bank of Australia At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 35 basis points. It also increased the interest rate on Exchange Settlement balances from zero per cent to 25 basis points. The Board judged that now was the right time to begin withdrawing some…
Statement by Philip Lowe, Governor: Monetary Policy Decision
Source link – Reserve Bank of Australia 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. Inflation has increased sharply in many parts of the world. Ongoing supply-side problems, Russia’s invasion of Ukraine and strong demand as…
Appointment: Michele Bullock As Deputy Governor
Source link – Reserve Bank of Australia The Governor, Philip Lowe, today warmly welcomed the appointment by the Treasurer of Michele Bullock to the position of Deputy Governor of the Reserve Bank of Australia and as a member of the Reserve Bank Board. Mr Lowe said: ‘I warmly congratulate Michele on her appointment as the…
BIS Innovation Hub and Central Banks of Australia, Malaysia, Singapore and South Africa Develop Experimental Multi-CBDC Platform for International Settlements
Source link – Reserve Bank of Australia Project Dunbar developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks. The platform was designed to facilitate direct cross-border transactions between financial institutions in different currencies, with the potential to cut costs and increase speed. …
Renewal of Bilateral Local Currency Swap Agreement With Bank of Japan
Source link – Reserve Bank of Australia The Reserve Bank of Australia and Bank of Japan have renewed the Bilateral Local Currency Swap agreement for a further three years. The initial swap agreement between the two central banks was signed in 2016 and has been renewed for three-year periods since that time. Each agreement is…
Resignation: Deputy Governor
Source link – Reserve Bank of Australia Deputy Governor, Guy Debelle, announced today that he was resigning from the Bank, effective Wednesday, 16 March. Dr Debelle will be taking up the position of Chief Financial Officer of Fortescue Future Industries in June. He said: ‘I am honoured and privileged to have worked at the Bank for…
Appointment of Head of Banking
Source link – Reserve Bank of Australia Michael Plumb has been promoted to Head of Banking at the Reserve Bank of Australia. He will take up the position on 7 March 2022 and will report to Michelle McPhee, Assistant Governor (Business Services). Dr Plumb has held a number of senior roles within the Bank….
Statement by Philip Lowe, Governor: Monetary Policy Decision
Source link – Reserve Bank of Australia 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. The global economy is continuing to recover from the pandemic. However, the war in Ukraine is a major new source of…
Renewal of Bilateral Local Currency Swap Arrangement Between the Reserve Bank of Australia and Bank Indonesia
Source link – Reserve Bank of Australia The Reserve Bank of Australia and Bank Indonesia have renewed the Bilateral Local Currency Swap Arrangement on 18 February 2022. The initial swap agreement between the two central banks was signed in 2015 and has been renewed for three-year periods since that time. As with the previous facility, the…
Payments System Board Update: February 2022 Meeting
Source link – Reserve Bank of Australia At its meeting today, the Payments System Board discussed a number of issues, including: Payments system regulatory reforms. The Board welcomed the Government’s response to the recent reviews and inquiries dealing with the regulatory architecture for payments in Australia. Members discussed a number of aspects of the reform…