Australia
RBA reports huge losses from bond purchase programme
Central bank says its asset purchase programme helped boost the economy despite its financial cost
Australian senator introduces bill to regulate e-yuan
International use of the CBDC viewed as boosting China’s strategic power
RBA’s Lowe admits inflation models need rethink
Governor acknowledges forecasting mistakes but rejects calls to resign
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
RBA to focus on inflation targeting for 2022–23
Australian central bank changes priority as inflation reaches highest level since 1990s
Australian government will map crypto asset holdings
Move is necessary to oversee “largely unregulated” crypto sector, finance minister says
Australian banks must do more on climate risks, RBA official says
Green asset taxonomy must be appropriate for Australian conditions, says central bank official
RBA sets up new panel of private-sector economists
Expert panel will meet at least twice a year; move follows “embarrassing” forecasting issues
Australian central bank launches CBDC research project
RBA says it will look into different use cases of digital currency
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
RBA hits out at further delay to new clearing system
Blockchain-based system for Australian Stock Exchange won’t be operational until at least late 2024
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel while bringing inflation back to target
Australia rolls out revised cyber testing regime
‘Corie’ programme reflects the scope and long time horizons of state-sponsored hackers
Australian government to review RBA mandate and governance
Review will look into the board structure and performance, after RBA suffers criticism over policy choices
Australians can bear rising borrowing costs – RBA deputy
But Michele Bullock warns of greater financial burden for recent homebuyers
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
RBA raises interest rate by 50bp
Move marks a total of 125bp of increases since May
People: RBA and Norges Bank appoint deputy governors
Timothy Lane retires from Bank of Canada; BIS appoints deputy banking chief
Exit from bond yield target was ‘disorderly’, admits RBA
Central bank says it is unlikely to use yield curve targeting again
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike