Central Banking

RBA's Edey says central banks should take lead on payment systems

Reserve Bank of Australia assistant governor Malcolm Edey said, in a speech on March 31, that central banks have a "natural leadership role" on payment systems and should help drive innovation in the sector.

The assistant governor was addressing a payments conference in Kansas City, and began by discussing what he said were the "obstacles" to innovation occurring in the payments industry. He said the main obstacle was the lack of incentive for individual participants in the sector to innovate.

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