The Bank today published information provided to the Review of the Reserve Bank of Australia.

The Bank today published information provided to the Review of the Reserve Bank of Australia.

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.

Media Release Number 2022-40: The Bank today released its Final Incident Report, RITS and FSS Incident – 12 October. This report was released to RITS members on 11 November and summarises the causes and impacts of the IT disruption which occurred on 12 October. A range of action items following from the incident are also identified.

Media release number 2022-39: Today’s Payments System Board meeting discussed the recent technology outage at the Bank, ASX CHESS replacement, cyber resilience at payments and market infrastructures, payments reforms including common access requirements, least-cost routing, card payments regulation, the ‘Instalments’ services being proposed by the international card networks, enhancing cross-border payments, and research on central bank digital currency.

Media release number 2022-39: Today’s Payments System Board meeting discussed the recent technology outage at the Bank, ASX CHESS replacement, cyber resilience at payments and market infrastructures, payments reforms including common access requirements, least-cost routing, card payments regulation, the ‘Instalments’ services being proposed by the international card networks, enhancing cross-border payments, and research on central bank digital currency.

ASIC and the Reserve Bank of Australia (RBA) (the regulators) note ASX’s announcement on the CHESS Replacement program. ASX’s announcement marks a significant setback to the replacement of critical national infrastructure for Australia’s cash equity markets and now brings into sharp focus the longevity of the existing CHESS platform.

The Bank today released the Review of the RBA’s Approach to Forward Guidance.

At its meeting today, the Board decided to At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.85 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 2.75 per cent.

The Reserve Bank of Australia has today released a summary of findings from the latest triennial survey of turnover in foreign exchange (FX) and over-the-counter (OTC) interest rate derivatives markets that was conducted in the Australian market in April 2022.