Business

RBA ups rates by another 0.5%

- July 5, 2022 3 MIN READ

The Reserve Bank of Australia (RBA) has increased rates for the third consecutive month in a row, raising them in July’s meeting by 0.50%. The central bank has now increase rates by 1.25% in three months, taking the official cash rate to 1.35% as it moves aggressively to try and bring inflation under control. The… Read more »

Business

RBA cranks up interest rates by 0.5%

- June 7, 2022 2 MIN READ

The Reserve Bank of Australia has increased the official cash rate by 0.5% today to 0.85% in an aggressive jump that’s beaten market expectations for a 0.4% increase. The rise follows a 0.25% increase following the May board meeting. Governor Philip Lowe said the board’s concerns include “significantly” increased inflation, that’s “higher than earlier expected”,… Read more »

Other

RBA hikes interest rates by 0.25%, flags more rises

- May 3, 2022 2 MIN READ

The Reserve Bank of Australia has hiked the official cash interest rate by 0.25% to 0.35%. It’s the first increase in 11 years, in response to an accelerated annual inflation rate of 5.1%. RBA Governor Philip Lowe flagged more rate rises in response to ongoing inflation pressures over the next two years. Markets are now… Read more »

piggy bank broken
Fintech

The RBA is getting ready to move the goalposts on a key advantage for BNPLs – stopping retailers adding a surcharge

- October 25, 2021 3 MIN READ

The honeymoon is about to end for the buy-now-pay-later (BNPL) sector when it comes to the fees they charge retailers. As the likes of Zip, Afterpay and Humm have stolen market share from the credit card sector, one competitive advantage they had over alternative payment methods was the support of the Reserve Bank of Australia… Read more »

Fintech

The RBA is working on a central bank digital currency with Malaysia, Singapore and South Africa

- September 3, 2021 2 MIN READ

Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. A blockchain-based system will hopefully cut transaction costs and times. The results will feed into plans for global and regional platforms and the G20 roadmap on better cross-border payments. The Reserve Bank of Australia… Read more »

dogecoin, cryptocurrency
Cryptocurrency

The RBA says there’s no chance cryptocurrencies will become legal tender in Australia

- August 4, 2021 3 MIN READ

Cryptocurrency is unlikely to ever become legal tender in Australia, a Reserve Bank of Australia (RBA) executive has concluded during a Parliamentary hearing exploring competition, data privacy and fintech innovation issues. Despite watching the emerging cryptocurrency market for the past eight years, Dr Anthony Richards, head of the RBA’s Payments Policy Department said, “we just… Read more »

Topics

RBA cuts Australia’s official cash rate to 0.5%

- March 3, 2020 3 MIN READ

  Australia’s official cash rate now sits at 0.50% following a 25 basis points cut It’s the fourth rate cut since June 2019 amid growing concerns about the impact of the coronavirus on the global economy RBA says “global growth in the first half of 2020 will be lower than earlier expected” While housing prices… Read more »