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Bullock, the first woman in the role, was appointed governor of the Reserve Bank of Australia (RBA) in July, taking over from Philip Lowe, who stepped down after completing a seven-year term that ...
Australia's central bank on Monday said tokenised money could help save billions of dollars in costs in domestic financial markets, as it studies whether and how to launch a central bank digital ...
The Reserve Bank is currently governed by the Reserve Bank Act 1959. [4] Section 10(2), commonly referred to as the Bank's charter, states that Bank's duty is "to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia" to be achieved by exercising its powers "to contribute to:
Michele Bullock (born 1962/1963) is an Australian economist who is currently governor of the Reserve Bank of Australia (RBA). She commenced as governor on 18 September 2023, and is the first woman to hold the role. [1]
The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The ...
7 May – The Reserve Bank of Australia announces it will leave the interest rate steady at 4.35%. [164] 8 May – Cumberland City Council votes to ban books depicting same-sex relationships from their libraries, citing "sexualisation" concerns. [165]
Today’s highest savings rates are at FDIC-insured digital banks and online accounts paying out up to 4.50% APY with no minimums at Jenius Bank, Lending Club and other trusted providers as of ...
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...