Australia
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…
Senior appointment at the RBA
The Reserve Bank of Australia announced on Wednesday April 30 that its head of economic analysis, Guy Debelle, will take a year's leave at MIT and be replaced by Dr Philip Lowe.
RBA's Glenn Stevens on inflation targeting
In a speech on 'Inflation Targeting: A Decade of Australian Experience' Glenn Stevens of the Reserve Bank of Australia said inflation targeting has been a successful model for monetary policy in Australia. It has been associated with lower, less variable…
RBA's McGauchie: dangers of weak foreign growth
In an interview published by Dow Jones Newswires, Reserve Bank of Australia board member Don McGauchie said that anaemic economic growth in Europe and Japan is of much greater concern than war in Iraq.
Macfarlane - Do Australians borrow too much?
In a speech on 'Do Australian Households Borrow Too Much?' Ian Macfarlane of the Reserve Bank of Australia said that although household debt/income has increased since the 1980s, the risks have not increased significantly. This is due to the less…
RBA holds fire on interest rates
The Reserve Bank of Australia held interest rates steady at 4.75 per cent on Tuesday 1 April in a widely expected move, reported The Australian Financial Review.
Another term as governor for RBA's Macfarlane?
The Australian Treasurer, Peter Costello, speaking on Sunday 30 March intensified speculation that Ian Macfarlane would be given a second seven-year term as governor of the RBA saying he has obviously discharged his duties 'very finely', according to a…
RBA Payments System Board Annual Report 2002
The Reserve Bank of Australia issued its Payments System Board Annual Report on 28 March. The Report said the Board has embarked on a major reform of card networks that is intended to allow market mechanisms to operate more effectively in the Australian…
Treasury statement on the RBA Board appointment
Statement by Peter Costello, Treasurer of Australia on the appointment of Robert Gerard to the Board of the Reserve Bank of Australia, 25 March.
Robert Gerard appointed to RBA board
Businessman and long-time Liberal Party supporter Robert Gerard has been appointed to the board of the Reserve Bank of Australia. according to a report in The Age The move drew immediate criticism from the Opposition. Gerard said his experiencing in…
Edey on economic performance and issues in 2003
SPEECH - In the speech 'Economic Performance and Issues in 2003' Malcolm Edey of the Reserve Bank of Australia said the international environment is quite an uncertain one, and the outlook now is not as promising as it seemed to be at this time last year…
RBA leaves rates steady
The Reserve Bank of Australia left interest rates on hold Wednesday for the ninth month in a row.
Australia's Costello silent on RBA chief's future
With Ian Macfarlane's term ending in September, speculation has begun on whether the RBA chief will seek another term. Treasurer Peter Costello was tight lipped on the matter but said the governor had performed very well.
Fraser silent on Iraqi-Australia gold deal
A magazine has suggested Australia was paid a large sum of gold in 1991 as part of an export deal.
Stevens on the economic outlook
SPEECH - In the speech 'The Economic Outlook' Glenn Stevens of the Reserve Bank of Australia said Australia still faces a difficult environment abroad. Uncertainty is high internationally at present, and confidence subdued. It is to our advantage,…
Reserve Bank of Australia quarterly statement
PRESS RELEASE - The latest quarterly statement on Monetary Policy has been released by the Reserve Bank of Australia today.
Australian interest rates to remain stable
The Reserve Bank of Australia's quarterly statement on monetary policy said the global economy had lost momentum in late 2002 and that had weakened the case for rate rises this year.
Reserve Bank of Australia Press Release
PRESS RELEASE - At its meeting on 4 February the RBA Board decided to leave the cash rate target unchanged at 4.75 per cent, 5 February.