Australia’s central bank to review banknote distribution model
Decline in transactional cash usage has led to excess capacity
The Reserve Bank of Australia (RBA) is reviewing whether a single entity should be responsible for the country’s cash distribution as part of a wide-ranging review.
“We place a high priority on the community continuing to have good access to cash withdrawal and deposit services,” said Michelle McPhee, assistant governor for business services. “Having a banknote distribution system that is sustainable in an environment of declining transactional cash use is critical to this goal.”
The RBA’s
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