The Reserve Bank Board announced today that it has decided to maintain the cash rate target at 4.35 percent and the interest rate on Exchange Settlement balances at 4.25 percent.
Dr. Michael Plumb has been appointed as Head of Economic Analysis at the Reserve Bank of Australia (RBA). He will assume the position on August 20, 2024, and will report to Sarah Hunter, Assistant Governor (Economic).
Following a public consultation, the Reserve Bank of Australia (RBA) has decided to increase the settlement activity threshold under the Financial Stability Standards for Securities Settlement Facilities (SSF Standards). This move aims to balance the risks posed by small firms to the financial system and the regulatory burden imposed on them. The review of the settlement activity threshold in the SSF Standards was initiated following the Payments System Board’s meeting in November 2023.
The Reserve Bank Board has announced its decision to maintain the cash rate target at 4.35 percent and the interest rate on Exchange Settlement balances at 4.25 percent.
The Bank today released the 2024 Assessment of the Reserve Bank Information and Transfer System (RITS) against the Principles for Financial Market Infrastructures (PFMI). The assessment concludes that RITS observed all relevant PFMI as of March 31, 2024, except for the principle on governance, which it broadly observed, and the principles on the framework for the comprehensive management of risk and operational risk, which were both partly observed. The assessment concludes that to fully observe all of the PFMI, the program of work established following the Bank’s 2022...
The Reserve Bank of Australia has released the schedule for its board meetings and the Statement on Monetary Policy for 2025. The outcomes of these meetings will be announced at 2:30 pm on the second day of each board meeting, followed by a media conference hosted by the Governor at 3:30 pm.
The Reserve Bank Board has announced its decision to maintain the cash rate target at 4.35 per cent and the interest rate paid on Exchange Settlement balances at 4.25 per cent. In a statement released on May 7, 2024, the Board highlighted the current economic conditions and uncertainties moving forward."Inflation remains high and is falling more gradually than expected," the Board stated. The Consumer Price Index (CPI) grew by 3.6 per cent over the year to the March quarter, with underlying inflation higher than headline inflation. Services inflation, in particular,...
The Reserve Bank of Australia (RBA) has recently released a report focusing on the advantages and obstacles of connecting fast payment systems internationally for cross-border payments. According to the report, linking these systems has the potential to enhance the speed and transparency of cross-border transactions, benefiting both users and service providers.The report emphasizes the significance of well-designed governance, scheme rules, and payment processing capabilities in managing risks and ensuring a smooth cross-border payments experience. However, challenges...
The Reserve Bank of Australia (RBA) is seeking input on the future system for monetary policy implementation in the country. According to a recent announcement from the RBA, the Board has endorsed a plan to operate with ample reserves by meeting all demands for reserves via full allotment auction at the RBA’s open market operations.In a move to gather feedback and insights from stakeholders, the RBA has released a Consultation Paper to guide the consultation process. The paper outlines the principles and options related to the detailed design features of the ample...