Reserve Bank of Australia (RBA)
Low inflation and tighter credit gave room for cut, RBA minutes show
Inflation looks likely to remain low for some time, board members note, while tighter lending standards make adverse effects of a cut less likely
Reserve Bank of Australia governor backs 2–3% target in final address
Reserve Bank of Australia governor supports inflation-targeting regime in last public address; moving the target could open the door to further changes down the line, warns Stevens
RBA cuts as housing risks posed by lower rates ‘diminish’
Reserve Bank of Australia cuts by a further 25bp to 1.5%, after annual CPI inflation drops to 1% in June; growth in lending for housing has "slowed a little"
Australian fixed-income markets continue to function ‘satisfactorily’, says Debelle
Regulatory change contributing to satisfactory performance, assistant governor notes; large share of activity in derivatives helping bond market to be successful
RBA’s Kent considers risks around Chinese debt
Australian assistant governor says high debt increases China’s vulnerability to shocks, but because much of it is domestic, and funded by household sector, authorities have some leeway
Low rates driving up housing share of income – RBA paper
Share of aggregate US income from capital is on the rise, and housing accounts for a large portion; low nominal rates explain strong demand for housing, economist argues
RBA caps interchange fees and surcharges
Reserve Bank of Australia completes two-year card review, implementing reform around surcharges and interchange fees; regulation now applies to ‘companion cards’
RBA minutes reveal discussion around rate cut
No real change in economic activity or unemployment rate, minutes show; committee 'persuaded' monetary easing would improve prospects for inflation and growth
RBA's Edey signals end to lengthy card review process
Assistant governor lays out issues review will address when it is published next week, following two-year process
Aussie dollar drops as RBA cuts inflation outlook
Reserve Bank of Australia cuts forecasts for headline and underlying inflation; lowered its key rate by 25bp to 1.75% earlier this week
Philip Lowe picked as next RBA governor
Deputy governor Lowe will succeed Glenn Stevens, who says there is “no-one better qualified” to lead the Reserve Bank of Australia
RBA cuts to 1.75% as data disappoints
Glenn Stevens points to “unexpectedly low” inflation data as the Reserve Bank of Australia cuts its key rate by 25bp; Australian dollar slides following decision
Australian governor Stevens sees more viable options than helicopter money
Reserve Bank of Australia governor identifies a host of practical issues to helicopter money, and says there is more governments can be doing before then
Research digs into disagreement about inflation expectations
Paper published by Reserve Bank of Australia examines how the disagreement within stakeholder groups about inflation expectations has evolved
Prudential measures may create risks for developers – RBA
Tighter regulations designed to tackle housing risks may cause problems for large building projects started before the tougher rules came in
RBA establishes new macro modelling division
External review recommends new approach to “full-system” models at heart of policy analysis, warning modelling expertise is limited at the central bank
Australian inflation likely to remain low for next two years, governor says
"Accommodative" monetary policy appropriate as GDP picks up, Glenn Steven says
Guy Debelle reviews forex code progress ahead of first-phase release in May
Global code to be implemented as principles rather than rules; regulators may implement with element of variation depending on market participants, Debelle notes
RBA’s Lowe says productivity still a problem
Australia has proven resilient through an uncomfortable rebalancing phase, but the economy is still plagued by disappointing productivity growth, deputy governor says
Australian central bank adds S Korean won to reserve portfolio
Australian central bank slashes euro holdings by 20% as diversification into alternative currencies continues
RBA’s Richards sees possibility for digital Australian dollar
New card regulation to be ready by May, says Richards; digital currency a possibility in the ‘more distant future’, but RBA not ‘actively considering’ it
RBA deputy sets out potential changes to interest rate benchmark
Debelle emphasises importance of the bank bill swap rate, outlines possible reforms including lengthening the window in which transactions are used to calculate rate
RBA board agrees China has ‘scope to respond’ if outlook worsens
Minutes from February meeting reveal board is wary a ‘sharp slowing’ in economic activity could spill over to other economies in region, though Chinese authorities could respond
Australian governor Stevens stresses policy ‘flexibility’
Governor says Reserve Bank of Australia has scope to ease monetary policy if need be, though economy expected to continue expanding