News

The ABA joined banks, consumer representatives and local stakeholders on Yawuru country this week as part of the Broome Circle banking forum.

“A second concern associated with the issuance of a CBDC is that it could threaten financial stability by facilitating bank runs if households lost confidence in banks.”

Treasurer Jim Chalmers has said the federal government will consider whether to reappoint Philip Lowe as RBA governor in mid-2023.

The balance on goods and services decreased by $11.1 billion but remained in a surplus of $31.2b, while the net primary income deficit widened by $6.4 billion to $33.2 billion in the September quarter 2022. 

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.00 per cent.

Overall, the ABA supports in full, part or principle approximately 72 percent of the 116 recommendations from the review.

A select group of customers and merchants will take part in the pilot and use the e-rupee as a replacement for hard cash

The ABA looks forward to considering the report in detail. 

The start-up takes hundreds of data sources, for example from credit and data providers, to cross-check potential customers’ identities.

The Panel were clear that they had not yet landed on final recommendations for their review of the RBA, but shared key themes that had arisen through their consultations, as well as the ways in which they are framing key questions.

Department stores had the largest fall, down 2.4%.

“In fact, the law requires that. It requires banks to individually verify and document the circumstances of every applicant, so that you need to verify and document what their income is, and what their expenses will be.”