The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) today released a report on the findings from a joint research project involving industry that explored potential use cases for a central bank digital currency (CBDC) in Australia. The project involved the RBA issuing a limited-scale ‘pilot’ CBDC that was a
At its meeting today, the Payments System Board discussed a number of issues, including: The annual Assessment of the ASX clearing and settlement facilities against the Financial Stability Standards. The Board endorsed the Bank’s Assessment, which will be published after it has been provided to the Treasurer and the Australian Securities and Investments Commission. The
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent. Interest rates have been increased by 4 percentage points since May last year. The higher interest rates are working to establish a more sustainable balance between supply and
July 5, 2023 Ottawa, Ontario The Financial Consumer Agency of Canada (FCAC) protects Canadians by supervising the compliance of federally regulated financial entities, such as banks, with their legislative obligations, codes of conduct and public commitments, and by strengthening Canadians’ financial literacy. In response to the challenges facing consumers in the current economic environment, FCAC
The Treasurer, the Hon Dr Jim Chalmers MP, has appointed Michele Bullock as Governor of the Reserve Bank of Australia for a seven-year term commencing 18 September 2023. Governor Philip Lowe said: ‘The Treasurer has made a first-rate appointment. I congratulate Michele on being appointed Governor. The Reserve Bank is in very good hands as it
