Australia
RBA governor dispels view board ‘does nothing’
Central bank board votes to leave rates on hold, extending period to 21 months with no change; Lowe says next move is likely to be up
Curbs on interest-only loans have cut risks – RBA’s Kent
Regulatory actions have helped reduce risks in what had been a fast-growing sector
Prudential curbs on lending are working – RBA report
Central bank says concerns over riskier forms of lending “have eased”
RBA paper offers new way to add housing sector to DSGE models
Authors find their model delivers “reasonable” forecast performance
Official inquiry finds ‘evidence of misconduct’ by Australia’s largest banks
Four largest banks may have continuously breached credit issuance legislation
Re-pricing of assets could dampen global recovery, RBA deputy warns
Debelle says equities may be mispriced and says interest rates show “puzzling” features
RBA highlights ‘unique’ design of Australian faster payments
System operates on a distributed basis, is separated from commercial “overlays”, and offers real-time settlement of each transaction, says assistant governor
Intellectual property investment fuelling growth in Australia – Lowe
RBA governor says lack of growth in “tangible assets” is turning investment towards the information technology market
RBA paper proposes new method of mapping the banking network
“Density-based” approach helps overcome shortcomings of other methods, authors say
Australia’s real-time payment system goes live to the public
System built by Swift will process payments in less than a minute and will utilise new PayID technology; Osko is first application launched on new platform
Wage growth refuses to budge, RBA’s Lowe says
Governor notes employment levels have improved and will continue to improve over the policy horizon, but wage growth continues to disappoint
Consultancy and advisory provider of the year (currency management): De La Rue
The UK-based company is helping central banks monitor the lifespan of banknotes in a bid to improve stock management and cost-effectiveness of currency operations
People: RBA appoints new assistant governor
Susan Woods takes position of assistant governor for corporate services; new executive board member at Norges Bank; Central Bank of Ireland appoints director of economics
RBA’s Lowe discusses potential electronic Aussie dollar
Financial stability risk and reforms holding back provision of digital currency at the moment, says RBA governor, but clearing and settlement could be future use case
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Central bank demand boosting banknote sector – RBA’s Boulton
Asian security printers are showing faster growth as central banks turn to more sophisticated designs, says Lindsay Boulton
RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
RBA looking to handle uncertainty better, says Debelle
Reserve Bank of Australia to change way it presents forecasts in order to avoid false impression of precision
RBA needs representative for the poor – religious group
The proposed new board member would help the central bank understand the effect monetary policy has on the poor, says group
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
Bank swap rate reforms going well, Australian deputy governor says
Guy Debelle says BBSW rate will be strengthened by changes
Future Fund takes cautious stance despite strong returns
Australian sovereign wealth fund exceeds benchmark return but managers stress need for “discipline” amid reach for yield
RBA payments board backs ‘digital identity’ for Australians
Board encourages payments industry to work on a framework that could make online transactions more convenient and secure
RBA’s Kent warns mortgages are still risky, despite offsets
RBA assistant governor says use of offset accounts does not remove the need for tighter lending standards; new securitisation database sheds light on housing market