The Reserve Bank experienced a system issue yesterday evening which impacted the Fast Settlement Service (FSS) and the Low Value Clearing and Settlement Services (LVCS and LVSS).

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 2.50 per cent.

The Reserve Bank today released the 2022 Assessment of the ASX Clearing and Settlement Facilities.

The Digital Finance Cooperative Research Centre and the Reserve Bank have today released a White Paper ‘Australian CBDC Pilot for Digital Finance Innovation’, that explains the objectives and approach of a project to explore use cases for a central bank digital currency.

The Bank today released the Reserve Bank Board’s Review of the Bond Purchase Program. This review is one element of a broader set of reviews the Board is undertaking of the monetary policies it adopted in response to the pandemic. The purpose of the reviews is to be transparent and open about the experience and draw out lessons for the future. A review of the Bank’s experience with forward guidance will be published later this year.

The Reserve Bank of Australia wishes to express its heartfelt condolences to the Royal Family following news of the death of Her Majesty Queen Elizabeth II.

At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 2.35 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 2.25 per cent.

Today’s Payments System Board meeting discussed the Bank’s assessment of the ASX clearing and settlement facilities and oversight of international facilities, least-cost routing, payments reforms including industry standard setting bodies, developments in CBDCs and the payments fintech ecosystem.

The Reserve Bank has concluded its Review of Banknote Distribution Arrangements. Today, it has released a Conclusions Paper setting out various changes that seek to ensure that banknote distribution is effective, efficient, sustainable and resilient – both now and into the future. This will help ensure Australians continue to have good access to cash.

The Reserve Bank has extensive liaison with members of the community and values the insights and understanding this brings. It is seeking to strengthen its existing dialogue with the economics profession. To do this, the Bank is establishing a panel of private sector economists and will hold at least biannual meetings with the panel. It is also increasing the number of attendees at meetings of the existing panel of economists from academia and will meet with this panel at least biannually.