Australia
Australia’s Debelle discusses effect of rate cuts
Assistant governor explains Australian banks’ increased funding costs; says the cash rate has been effective in adjusting lending rates
RBA paper addresses systemic risk in payments system
Research paper from Reserve Bank of Australia analyses systemic risk in RTGS payment system; evaluates Australia’s liquidity-saving algorithms
RBA holds rate as global growth softens
Stable inflation, close to target domestic growth and 'subdued' international economic picture lead Reserve Bank of Australia board to leave benchmark rate at 3.5%
RBA issues new market infrastructure proposals
Australian central bank unveils latest proposals to meet CPSS-Iosco principles for financial market infrastructures; says additional detail provides for ‘greater legal certainty’
RBA paper explains shift in ATM usage
Research paper from Reserve Bank of Australia analyses impact of 2009 ATM reforms; finds increased transparency has driven consumers away from ‘foreign’ machines
RBA makes progress with card surcharging guidelines
Industry calls on Reserve Bank of Australia to provide “more prescriptive” guidance than draft rules issued in June; final version set to be published in October
RBA refutes fresh allegations of bribery cover-up
Reserve Bank of Australia denies claims that a document was hidden from investigators; says governor Glenn Stevens did not mislead a parliamentary committee
RBA minutes show bond yields at “historic low”
Reserve Bank of Australia’s August monetary policy minutes note historically low bond yields; offshore purchases of Australian dollar remain high
Australian payments systems board debates multi-network cards
Introduction of contactless payments reignites discussion surrounding cards issued by banks with debit functionality from more than one payments network; consultation launched
RBA payments manager discusses challenge of Basel III deadline
Reserve Bank of Australia’s Mark Chambers says countries are struggling to implement Basel III framework in time; highlights obstacles facing Australian policy-makers in introducing regulations
RBA reveals brighter growth outlook
Reserve Bank of Australia improves 2012 growth estimate; strong figures offset by uncertainty regarding external developments and possible upward trend for inflation
Australia and Sri Lanka leave rates on hold
Reserve Bank of Australia and Central Bank of Sri Lanka highlight worsening economic conditions around the world as they announce benchmark rates will remain unchanged
RBA minutes show cautious optimism
Minutes of Reserve Bank of Australia’s July monetary policy meeting note strong growth in domestic economy and signs of external recovery despite weakened growth in US, Europe and China
RBA deputy governor warns of regulatory side-effects
Reserve Bank of Australia’s Philip Lowe reviews impact of new financial regulation; says although new rules likely to increase stability, regulators must be aware of possible negative consequences
Australia’s Debelle defends rate cuts
RBA assistant governor says central bank’s rate cuts will have an effect; argues housing market is stronger than many critics believe
RBA ends 'excessive' card surcharges
Australian central bank publishes final reforms for surcharging standards for payments by credit and debit card in the country; allows “reasonable” charges to continue
RBA governor positive about Australian economy
Glenn Stevens optimistic about Australian economy; warns however against attempts to “engineer a return to the boom”
RBA outlines payments system development plan
Australian central bank sets out areas of priority for advancing the payments system in the country; concludes two-year review process
RBA governor criticises ‘dated’ payments systems
Glenn Stevens warns Australia has fallen behind other countries by not offering real-time electronic transfers; notes task the central bank faces in matching improved global regulatory environment
Cheques secure place in Australian payments system
Australian Payments Clearing Association finds no reason to consider closing the cheque clearing system in Australia
RBA minutes note ‘fragile’ global picture
Reserve Bank of Australia board discussed “fragile” sentiment surrounding global economic recovery and slow domestic growth when making most recent monetary policy decision
Aussie demand surges following recent RBA rate cut
The Reserve Bank of Australia’s decision to cut interest rates on May 1 led to a sharp fall in the Australian dollar, but has also caused an uptick in demand for the currency, according to FX traders and strategists in the region
RBA fears downturn in Asia due to euro area contagion
Reserve Bank of Australia expresses fears about potential contagion from Europe hitting export markets in Asia
RBA cites weaker economy in decision to cut policy rate
Reserve Bank of Australia cuts cash rate by 50 basis points; highlights weaker economic growth and lower-than-expected inflation for the move