Australia
RBA raises interest rates 0.25%
The Reserve Bank of Australia raised interest rates to a 5-year high of 5.75% on Wednesday 3 May. "The Board judged at its May meeting that inflationary risks had increased sufficiently to warrant an increase in the cash rate," RBA governor Ian…
RBA's Macfarlane on monetary policy & the media
In a transcript from a radio report on Friday 28 April, Reserve Bank of Australia governor Ian Macfarlane pondered why the Australian media covered interest rate moves much more than either the US or UK media. He also recounted a 'near-death' experience…
Rivals line up for RBA succession
Australian Treasurer Peter Costello has just six months to find a replacement for Reserve Bank of Australia governor Ian Macfarlane. According to this article published on Sunday 26 March, Glenn Stevens may be favourite for the post, but there is still…
McGauchie reappointed to RBA's board
Australian Treasurer Peter Costello on Thursday 30 March reappointed Telstra Corp. chairman Don McGauchie to the Reserve Bank of Australia's board for another five-year term.
RBA Financial Stability Review, March 2006
The Reserve Bank of Australia published the March 2006 edition of its Financial Stability Review on Tuesday 28 March. Recent developments have been largely favourable from a financial stability perspective, according to the latest Review.
Financial Stability Forum concludes meeting
The Financial Stability Forum (FSF) held its fourth Asia-Pacific regional meeting on Thursday 16 March in Sydney, Australia.
RBA's Lowe on the payments system
In the speech 'The evolution and regulation of the payments system' given on 14 March Philip Lowe of the Reserve Bank of Australia said the global shift towards electronic payments was being driven by advances in technology and the lower cost of…
Comment: Busy week for policymakers
This week is a busy one for monetary policymakers, with policy meetings taking place in Japan, the United Kingdom, Canada, Australia, New Zealand and Indonesia. Here is a brief look at what's been on the mind of central bankers in these countries.
RBA's Richards on 'Economy 2006'
In the speech 'Economy 2006' given on 2 March Anthony Richards of the Reserve Bank of Australia said the outlook for the economy was favourable, with above-average world growth ensuring a favourable outlook for investors and commodity producers.
RBA's Edey on the Australian economy
In the speech 'The Australian economy - Prospects for 2006 and beyond' given on 24 February Malcolm Edey of the RBA said business was currently undergoing a major upswing, having expanded by 18 per cent over the past year.
RBA's Stevens: Recent economic & financial trends
In the speech 'Some observations on recent economic and financial trends' given on 22 February Glenn Stevens of the RBA said inflation in Australia is well contained and inflationary risks are balanced, yet interest rates are still more likely to rise…
RBA's Macfarlane on the Australian economy
In his opening statement to the House of Representatives given on 17 February I.J. Macfarlane of the Reserve Bank of Australia said it is more likely that the next movement in Australian interest rates will be up rather than down. He also said the way…
Let's cut the bullion about holding gold
This article published on Saturday 11 February asks whether the Reserve Bank of Australia has made a costly blunder in its management of Australia's international reserves. This task is surely a litmus test of a central bank's financial acumen, it says.
RBA Statement on Monetary Policy, February 2006
The Reserve Bank of Australia published its February 2006 Statement on Monetary Policy on 13 February. Global economic conditions are continuing to provide a favourable environment for the Australian economy, according to the report.
Australian rates unchanged
The Reserve Bank of Australia yesterday left the overnight cash rate at 5.5%, following its first interest rate meeting of the year. Australia is in the midst of its most stable economic period in three decades, with only one change in monetary policy in…
Keeping meeting secret cost RBA $300,000
The Reserve Bank of Australia spent $304,530 on lawyers to block a Freedom of Information request to release details of the central bank board's deliberations over interest rates.
Macfarlane defends RBA appointments
Reserve Bank of Australia governor Ian Macfarlane has defended the process used to appoint the central bank's board members following the resignation of Robert Gerard.
RBA's Stevens on Asia's financial system
In a speech to the 18th Australasian Finance and Banking Conference 2005 given on 14 December Glenn Stevens of the RBA said the development of Asia's financial system had not kept pace with its rapidly accelerating economies.
RBA's Macfarlane on recent economic developments
In the speech 'Some observations on recent economic developments' given on 13 December, Ian Macfarlane of the Reserve Bank of Australia said the Australian economy is more resilient and able to adjust to economic shocks as global interest rates rise…
RBA's gain
According to this article published on Wednesday 7 December, Robert Gerard's resignation from the Reserve Bank of Australia's board leaves three important questions to be dealt with. Firstly, has the controversy damaged the RBA and its policy credibility?
ACCI sees no reason to change RBA appointments
The Reserve Bank of Australia is the most successful central bank in the world and the appointment process to its board should not be changed, Australia's business organisation ACCI said this week.
Crisis solved, but Reserve still political
According to this article published on Saturday 3 December, the Howard Government has practised classic crisis management on its problem with the Reserve Bank of Australia's board. This protects the Government and the Reserve Bank from further…
RBA's Gerard resigns from Board
Australian businessman Robert Gerard resigned from the Reserve Bank of Australia's interest rate setting Board on Friday 2 December, four days after reports he had to pay $150 million ($111 million) to settle a tax dispute.
Former RBA chief says Gerard should quit
Former Reserve Bank of Australia Governor Bernie Fraser said RBA board member Robert Gerard should resign after a report he had to pay A$150 million (US$111 million) to settle a tax dispute.