Australia
Ian Macfarlane reappointed chief of RBA
The governor of the Reserve Bank of Australia, Ian Macfarlane, was reappointed on Tuesday 29 July for a further three years rather than the usual seven year term, reports The Australian. The reappointment decision was widely expected with few alternative…
RBA adds an Education section to its website
The Reserve Bank of Australia has included an Education section on its website. The new section draws together information, already on the site, into key areas of interest to teachers and students of economics and finance.
Reappointments to the RBA's Payments System Board
Australian Treasurer Peter Costello announced the reappointment of three members to the Reserve Bank of Australia's Payments System Board (PSB), 24 July.
Macfarlane at Business Council of Australia Dinner
In a speech at the Business Council of Australia Annual Dinner given on 8 July Ian Macfarlane of the Reserve Bank of Australia asked why has the Australian economy recently shown much more stable behaviour than the much larger and more diversified US…
RBA's McKibbin confident growth will continue
Reserve Bank of Australia board member Warwick McKibbin said in an interview a lot of other countries are looking to Australia for lessons on why we are doing so well. He also suggested that Australia will keep growing at close to 3.7 per cent, Bloomberg…
Reform of credit card schemes in Australia
Statement by the Reserve Bank of Australia on credit card reforms, 1 July.
RBA's credit card court case draws to a close
The Reserve Bank of Australia's (RBA) six-week long Federal Court case with Visa and MasterCard over credit card reforms closed on Friday 27 June. Justice Brian Tamberlin said he hoped to deliver his judgement in two months.
Frank Lowy re-appointed to RBA Board
Australian Treasurer Peter Costello announced Wednesday the re-appointment of Mr Frank Lowy AC to the Board of the Reserve Bank of Australia. His term will end in December 2005.
RBA information on open market operations
After consultation with financial market participants, the Reserve Bank of Australia (RBA) has decided to increase the range of information published regarding its open market operations, 19 June.
Macfarlane on prospects for the world economy
In his opening statement to House of Representatives I.J. Macfarlane of the Reserve Bank of Australia said the international environment has not yet improved in the way we had hoped, and the changing fortunes of the US dollar throw an additional…
RBA chief Macfarlane denies conflict with gov't
Reserve Bank of Australia governor Ian Macfarlane said on Sunday 8 June that although there may be differences of opinion between the Treasury and the Bank's board there was no conflict between the RBA and the government, according to The Australian.
New standards for Australia's clearers
The Reserve Bank of Australia has released two new standards to govern the Australian stock settlement systems. One is addressed towards central counterparties, the other to securities settlement facilities.
Australia leaves rates unchanged at 4.75%
The Reserve Bank of Australia has now kept interest rates on hold at 4.75% for a year, the New Zealand Herald reports, as a cut in rates could further raise already worrying levels of consumer debt while a raise would damage exports.
Senior appointment made at the RBA
The Reserve Bank of Australia announced the appointment of Chris Ryan as Head of Domestic Markets Department on 2 June.
Financial data and monetary policy transparency
The Reserve Bank of Australia published a Research Discussion Paper on 23 May titled "What Do Financial Market Data Tell Us About Monetary Policy Transparency?" by Jonathan Coppel and Ellis Connolly. This paper attempts to discern from financial market…
RBA says it did its homework on credit cards
As the court action continues in Australia over the RBA's introduction of credit card reforms, the Sydney Morning Herald reports that the Reserve Bank's counsel has accused counsel for Visa and MasterCard of drawing selectively from documents in putting…
Reserve Bank of Australia "rushed" card reforms
Australia's Federal Court heard Thursday that the Reserve Bank had rushed through reforms of the Australian credit-card market because an ACCC price-fixing action against National Australia Bank was about to fail, according to a report in The Age.
Reserve Bank overplayed its hand, says Visa
The start of the law suit bought by major credit card companies against the Reserve Bank of Australia heard arguments on Tuesday 20 May that the central bank had overstepped its statutory powers by introducing reforms to credit card interchange fees,…
Visa starts court case against RBA over reforms
On Monday 19 May Visa International began legal action in court against the Reserve Bank of Australia, claiming that the RBA did not have the power to undertake sweeping reforms of Australia's credit card industry, according to Associated Press.
Banking returns to normal in the Solomon Islands
Trading has resumed at major banks in the Solomon Islands, reports Radio Australia. The central bank has reopened and reports say that long queues have formed at some banks. The moves came after organisers of the collapsed pyramid scheme run by the…
Costello hints at new term for RBA's Macfarlane
Australian Treasurer Peter Costello gave a strong hint Reserve Bank (RBA) governor Ian Macfarlane would be appointed to lead the central bank for another term, according to The Age newspaper. Mr Macfarlane's term is due to expire on September 17.
RBA Statement on Monetary Policy, May 2003
The Reserve Bank of Australia has released its May 2003 Statement on Monetary Policy. The global economy entered a period of slower growth towards the end of last year, which has continued into 2003. While this has been generally expected to be temporary…
Jillian Broadbent re-appointed to RBA Board
Announcement from the Australian Treasury of the re-appointment of Ms Jillian Rosemary Broadbent to the Board of the Reserve Bank of Australia, 6 May.
Efficacy of central bank interventions - Australia
An RBA discussion paper "Identifying the Efficacy of Central Bank Interventions: Evidence from Australia" says the endogeneity of exchange rates and intervention has long plagued studies of the effectiveness of central banks' actions in foreign exchange…