Reserve Bank of Australia (RBA)
RBA’s Kent considers life after the mining boom
Australian economy is well into an adjustment, following the country’s mining investment boom; RBA correctly identified the patterns of adjustment, but was surprised by the magnitude
RBA’s Lowe: credit not enough to measure financial cycle
Deputy governor says the financial cycle’s “considerable intuitive appeal” needs to be backed up with better research on measuring cycles, with balance sheets likely to play a key role
Stevens highlights housing market improvement at final monetary policy meeting
Reserve Bank of Australia leaves rates on hold at Steven’s last monetary policy meeting; board assesses the current policy stance as appropriate to foster growth and achieve inflation target
People: Debelle becomes RBA deputy governor
Foreign exchange expert becomes deputy governor of RBA; Mongolia appoints deputy governor
RBA launches first banknote with edge-to-edge window
Twelve-year project cost the bank $37 million; new series to feature pioneering security elements and is the first to trial tactile features for the visually impaired
‘More market pressure’ on institutions to compete on safety, says RBNZ’s Fiennes
There is no government guarantee, says Fiennes; boards and managers are responsible for managing risks
Second half of global FX code to be circulated in October – Debelle
“Significant progress” has been made drafting the second phase, says RBA assistant governor; market participants will be able to comment on draft proposals and provide feedback
Low inflation and tighter credit gave room for cut, RBA minutes show
Inflation looks likely to remain low for some time, board members note, while tighter lending standards make adverse effects of a cut less likely
Reserve Bank of Australia governor backs 2–3% target in final address
Reserve Bank of Australia governor supports inflation-targeting regime in last public address; moving the target could open the door to further changes down the line, warns Stevens
RBA cuts as housing risks posed by lower rates ‘diminish’
Reserve Bank of Australia cuts by a further 25bp to 1.5%, after annual CPI inflation drops to 1% in June; growth in lending for housing has "slowed a little"
Australian fixed-income markets continue to function ‘satisfactorily’, says Debelle
Regulatory change contributing to satisfactory performance, assistant governor notes; large share of activity in derivatives helping bond market to be successful
RBA’s Kent considers risks around Chinese debt
Australian assistant governor says high debt increases China’s vulnerability to shocks, but because much of it is domestic, and funded by household sector, authorities have some leeway
Low rates driving up housing share of income – RBA paper
Share of aggregate US income from capital is on the rise, and housing accounts for a large portion; low nominal rates explain strong demand for housing, economist argues
RBA caps interchange fees and surcharges
Reserve Bank of Australia completes two-year card review, implementing reform around surcharges and interchange fees; regulation now applies to ‘companion cards’
RBA minutes reveal discussion around rate cut
No real change in economic activity or unemployment rate, minutes show; committee 'persuaded' monetary easing would improve prospects for inflation and growth
RBA's Edey signals end to lengthy card review process
Assistant governor lays out issues review will address when it is published next week, following two-year process
Aussie dollar drops as RBA cuts inflation outlook
Reserve Bank of Australia cuts forecasts for headline and underlying inflation; lowered its key rate by 25bp to 1.75% earlier this week
Philip Lowe picked as next RBA governor
Deputy governor Lowe will succeed Glenn Stevens, who says there is “no-one better qualified” to lead the Reserve Bank of Australia
RBA cuts to 1.75% as data disappoints
Glenn Stevens points to “unexpectedly low” inflation data as the Reserve Bank of Australia cuts its key rate by 25bp; Australian dollar slides following decision
Australian governor Stevens sees more viable options than helicopter money
Reserve Bank of Australia governor identifies a host of practical issues to helicopter money, and says there is more governments can be doing before then
Research digs into disagreement about inflation expectations
Paper published by Reserve Bank of Australia examines how the disagreement within stakeholder groups about inflation expectations has evolved
Prudential measures may create risks for developers – RBA
Tighter regulations designed to tackle housing risks may cause problems for large building projects started before the tougher rules came in
RBA establishes new macro modelling division
External review recommends new approach to “full-system” models at heart of policy analysis, warning modelling expertise is limited at the central bank
Australian inflation likely to remain low for next two years, governor says
"Accommodative" monetary policy appropriate as GDP picks up, Glenn Steven says