Australia
RBA likely annoyed by political rate talk
In an interview with Dow Jones Newswires on Wednesday 13 October, Professor Stephen Bell, author of a new book "Australia's Money Madarins: The Reserve Bank and the Politics of Money" said the government's argument that interest rates would rise faster…
Profitability of RBA foreign exchange operations
Since the float of the Australian dollar in December 1983, the Reserve Bank of Australia has retained the discretion to intervene in the foreign exchange markets in order to avoid what it perceives to be large overshooting in the currency. This paper…
Former RBA chief criticises PM on rates
Former Reserve Bank of Australia governor Bernie Fraser said in an interview he expects interest rates to rise straight after the election, partly because of what he sees as the lax budgetary policies of the Howard government.
Reform of card payment systems in Australia
Following a decision by the Payments System Board, the Reserve Bank of Australia on Thursday 9 September designated the EFTPOS debit card payment system in Australia as a payment system under the Payment Systems (Regulation) Act 1998.
Reserve Bank of Australia - Annual Report 2004
The Reserve Bank of Australia has published its Annual Report for 2004. After a temporary weak spot in the middle of 2003, the world economic recovery resumed in 2003/04. In Australia it was a year of good growth and low inflation as we completed the…
RBA's Macfarlane on Asia and Australian growth
In a speech on 'Geography, Resources or Institutions?' given on 25 August Ian Macfarlane of the RBA said the growth of Asia had contributed substantially to Australia's economic performance by helping reduce its isolation from world economic activity.
Australia's Stevens on economic forecasting
Glenn Stevens, deputy governor of the Reserve Bank of Australia, gave a speech to the Economic Society of Victoria on August 17 on "The thankless task of economic forecasting". He discussed the accuracy of forecasts, how to make forecasts useful, and…
RBA Conference: The future of inflation targeting
The Reserve Bank of Australia has published the papers presented at its 2004 Conference "The future of inflation targeting" held 9-10 August. Papers include 'Can central bank transparency go too far?,' 'Inflation measurement for central bankers', and …
RBA Statement on Monetary Policy, August 2004
The Reserve Bank of Australia published its August 2004 Statement on Monetary Policy on 9 August. Economic developments over recent months point to continued good growth of the Australian economy. The global upswing has maintained its momentum since the…
RBA 2004 Conference: Future of inflation targeting
This year's Reserve Bank of Australia conference to be held 9-10 August is focusing on various issues related to inflation targeting including: the evolution of inflation-targeting regimes and the measurement of inflation. Drafts of the papers will be…
RBA holds rates
The Reserve Bank of Australia announced Wednesday morning, 4 August, that the official cash rate would remain at 5.25 per cent, where it has been since December.
Australian PM says no case for rate rise
Australian Prime Minister John Howard said that there is no case for an interest rate rise. The Reserve Bank of Australia was due to hold a Board Meeting on 3 August, with most analysts expecting interest rates to remain unchanged.
RBA's Battellino, some comments on securitisation
In a speech 'Some comments on securitisation' given on 28 July Ric Battellino of the Reserve Bank of Australia said there is no doubt that an efficient and dynamic financial sector contributes importantly to the growth and development of the economy, but…
RBA's McGauchie promoted at Telstra Corp
Donald McGauchie, an external board member of the Reserve Bank of Australia, has been promoted to chairman of Telstra Corp, Australia's largest phone company.
RBA says credit card reforms working
Shopkeepers stood to save $430 million a year from lower credit card costs after the Reserve Bank stepped in to regulate fees, the RBA said in its July Bulletin released Thursday.
Costello meets RBA board, says inflation in check
Australian Treasurer Peter Costello said he met with the board of the Reserve Bank of Australia after their monthly meeting on the morning of Tuesday 6 July, but refused to speculate on what the central bank would do.
Reform of card payment systems in Australia
The Reserve Bank of Australia is considering whether it would be in the public interest for it to designate the EFTPOS payment system and the ATM payment system in Australia. Doing so would be a precursor to the bank deciding whether to determine…
Inflation convergence across countries
OECD countries with a history of high inflation before the 1990s were shown to have subsequently experienced a larger degree of disinflation than countries with a history of low inflation. This RBA discussion paper explores further this phenomenon of…
RBA's McKibbin barred from providing advice
The Governor of the Reserve Bank of Australia, Ian Macfarlane, blocked board member Warwick McKibbin from advising a residential home equity fund, the Sydney Morning Herald reported this week.
RBA's Macfarlane sees growth close to 4 percent
In his opening statement to the House of Representatives Standing Committee given on 4 June, Ian Macfarlane of the RBA said that the Australian economy was set to grow by 3.75 percent in 2004 and signalled the Reserve Bank was "comfortable" with interest…
RBA's Stevens on economic conditions and prospects
In a speech on 'Economic conditions and prospects: June 2004' given on 2 June, Glenn Stevens of the Reserve Bank of Australia said Australia's economy was still growing comfortably but at a slower rate than the unsustainable pace of late 2003.
Reserve Bank of Australia Bulletin, May 2004
The Reserve Bank of Australia published its May 2004 Bulletin on 20 May. The Bulletin includes articles titled 'Residential Property Investors in Australia' And 'Banking Fees in Australia'.
Trans-Tasman currency to be discussed
Australia's high commissioner to New Zealand is promoting a common currency between the two countries as a way to advance the trans-Tasman relationship.
RBA Statement on Monetary Policy, May 2004
The Reserve Bank of Australia has published its May 2004 Statement on Monetary Policy. The RBA said easing currency woes, a cooling housing market and an improving global economy had improved the prospects for balanced growth. While the risks to the…