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The Reserve Bank is currently governed by the Reserve Bank Act 1959. [4] Section 10(2), commonly referred to as the Bank's charter, states that Bank's duty is "to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia" to be achieved by exercising its powers "to contribute to:
Michele Bullock (born 1962/1963) is an Australian economist who is currently governor of the Reserve Bank of Australia (RBA). She commenced as governor on 18 September 2023, and is the first woman to hold the role. [1]
Ian John Macfarlane AC (born 22 June 1946) is an Australian economist, and central banker. After an early career as an economist in Melbourne, Sydney, Oxford and Paris, he joined the Reserve Bank of Australia in 1979 and rose to become Governor from 1996 to 2006.
In a conference speech, Reserve Bank of Australia (RBA) Assistant Governor Brad Jones announced the launch of a three-year digital money work plan for the RBA and Treasury called Project Acacia.
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. [3]
Bullock, the first woman in the role, was appointed governor of the Reserve Bank of Australia (RBA) in July, ... While the June rate is far above the official target of 2% to 3%, “I think they ...
The Commonwealth Bank of Australia was established by legislation in 1911. The main functions of the bank were to undertake general banking and savings bank activities. In 1945 the bank's powers were formally widened to include exchange control and the administration of monetary and banking policy with the Commonwealth Bank Act and the Banking Act.
The Reserve Bank of Australia (RBA) retains its central banking functions including responsibility for most payment systems and setting of monetary policy. The Australian Competition & Consumer Commission (ACCC) regulates anti-competitive behaviour. However, it has an agreement with ASIC that ASIC oversees the majority of bank and financial ...