Australia
Lowe airs concerns about ageing population
RBA deputy says Australian population could become ‘inherently more risk averse’ as it ages, which could make it harder for the economy to generate productivity growth
Australia, Korea strike $5 billion swap deal
Glenn Stevens and Choong Soo Kim sign the countries’ first swap arrangement on the sidelines of the G-20 meeting as they look to promote bilateral trade
IMF sees ‘limited scope’ for RBA rate cuts
Article IV staff report says Reserve Bank of Australia’s accommodative monetary policy is ‘broadly appropriate’ but warns the central bank could struggle to offset further shocks
RBA changes tune on cash and exchange rates
Reserve Bank of Australia hints at a ‘period of stability’ in interest rates and welcomes the weaker Australian dollar
RBA inflation target mitigated terms of trade macro shocks
Researchers at the Reserve Bank of Australia argue that the country’s inflation targeting framework helped to mitigate the macroeconomic consequences of the recent terms of trade boom
RBA bulletin considers CCP resolution
Reserve Bank of Australia quarterly bulletin features an article on the recovery tools and resolution regimes that could be employed when central counterparties suffer losses
RBA's Stevens says 2013 ‘not as bad as feared'
Reserve Bank of Australia governor tells parliamentarians there will be turbulence ahead when the Fed starts to ‘taper'; reminds that monetary policy alone cannot kick-start economic growth
Australia PM adds to RBA intervention momentum
Tony Abbott says central bank has sufficient reserves to 'intervene prudently and appropriately' in forex markets; Glenn Stevens 'suspects' the market will spare the RBA the need to act
RBA economists examine effects of price shock on ‘endogenous reserves'
When a small open economy depends on non-renewable resources to a large degree, the effects of a shock to the prices of those resources are amplified, paper finds
RBA paves way for new entrants in card systems
Reserve Bank of Australia wants to facilitate new entrants into Australia’s credit and debit card systems; plans to let MasterCard and Visa set the eligibility criteria
Financial crisis hit Australian inventories, paper finds
RBA researcher tests theory that tight credit conditions caused Australian companies to reduce their inventories, and includes a case study on the automotive industry supporting the hypothesis
RBA’s Stevens laments ‘uncomfortably high’ currency
Reserve Bank of Australia governor Glenn Stevens says the Australian dollar is still too strong, despite depreciation against the US dollar
Sarb official warns about use of Aussie investments as a proxy for China
Australian and Chinese markets are 'vastly different', so investing in Australia as a proxy for China could be risky, South African Reserve Bank risk manager warns delegates at Nalm Africa 2013
Reserve Bank of Australia deputy governor targets productivity boost
Philip Lowe says the country will need a ‘substantial increase’ in productivity growth if it is to replicate the rapid growth in real per capita income achieved in the past two decades
RBA 'open-minded’ to currency intervention
Reserve Bank of Australia governor Glenn Stevens says the central bank would consider intervening in the exchange rate, and insists it ‘remains part of the toolkit’
RBA monetary policy statement says currency is too strong
Depreciation of the Australian dollar to the start of August has since been undone by the postponed Fed taper and positive Chinese data; weaker dollar will be needed to achieve balanced growth
Fed’s Fisher attacks ‘ineffective’ US government
Dallas Fed president Richard Fisher holds the United States government accountable for the slow pace of economic recovery; says the Fed has acted swiftly and decisively in comparison
RBA's Stevens says exchange rate disconnected from fundamentals
RBA governor Glenn Stevens says Australia's current exchange rate is not supported by the country's relative levels of costs and productivity
RBA paper supports CCP interoperability
Researchers weigh the benefits of increased netting across linked central counterparties against the potential costs arising from the bilateral exposures each link creates
RBA and government set out rules of engagement
Update to ‘statement on the conduct of monetary policy' says Australian government recognises the Reserve Bank's need for a strong balance sheet; RBA will pay no dividend to the government this year
Australian government pours $8.5bn into RBA's reserves
New Australian government blames dwindling reserves on predecessor's demand for ‘extraordinary' dividends; records show losses were incurred due to currency movements in 2010–11
RBA proposes Australian Payments Council to strengthen industry coordination
Reserve Bank of Australia and industry body Australian Payments Clearing Association launch consultation on establishment of new payments council
RBA’s Ellis warns against regulatory ‘monoculture’
Reserve Bank of Australia’s financial stability head says regulatory consistency is ‘important’ but should not result in identical business models that could all be vulnerable to one particular shock
RBA mulls further rate cuts as dollar keeps rising
Minutes of the latest monetary policy meeting show concerns remain over strong Australian dollar; new record low interest rate remains possible