Central Banking

Reserve Bank of Australia "rushed" card reforms

Australia's Federal Court heard Thursday that the Reserve Bank had rushed through reforms of the Australian credit-card market because an ACCC price-fixing action against National Australia Bank was about to fail.

Source: The Age

The Reserve Bank had rushed reforms of the Australian credit-card market because an Australian Competition and Consumer Commission price-fixing action against National Australia Bank was about to fail, MasterCard International said yesterday.

MasterCard counsel Peter Ha