Australia

WGC reaffirms, central banks should not sell gold

AUSTRALIA - The World Gold Council is continuing to ask European central banks to leave their reserves alone rather than putting quantities of gold up for auction, WGC managing director Robert Weinberg said Tuesday.

Speech by Ian Macfarlane, Governor, RBA, 4 Apr

SPEECH - In a speech titled 'The Australian Economy: Past, Present and Future' Macfarlane said the central bank was under no pressure to rush a move on interest rates, seeking to dampen market speculation of an imminent rate rise.

Kabul joins queue for bank services

AUSTRALIA - Two months after John Howard promised Australian help to rebuild Afghanistan's war-ravaged central bank, the Reserve Bank of Australia official chosen to advise his Afghan counterparts is still cooling his heels in Sydney, The Australian…

Speech by Ian Macfarlane, Governor, RBA, 22 Mar

SPEECH - Macfarlane's address, on 'Sir Leslie Melville: His Contribution to Central Banking in Australia', outlined Melville's role at the Commonwealth Bank of Australia when it served as both the central bank and a commercial bank.

Banks tackle RBA in new card twist

AUSTRALIA - The Australian Bankers' Association (ABA) says the Reserve Bank of Australia (RBA) has hired a lobbyist to promote credit card reform.

Banks in fight over card fees

AUSTRALIA - Banks and credit card issuers are in disagreement with the Reserve Bank of Australia (RBA) over credit card reforms.

RBA is losing minds in credit card battle

FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.

Speech by Glenn Stevens of the RBA, 6 March

SPEECH - Stevens said in the speech titled 'Economic Performance and Issues in 2002' that "as best as we can judge, the economy is not only continuing to expand, but has reasonable prospects of continuing to do so in the near term".

Gold loses its shine as banks sell, costs fall

AUSTRALIA - A third of the gold ever mined, or 30,000 tonnes, is stored in central banks around the world. The banks want to lower their reserves in favour of higher yielding investments such as bonds and currency.

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