At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points.

Today’s Payments System Board meeting discussed banknote distribution arrangements, the ASX’s CHESS replacement program, payments system regulatory reforms, stablecoin developments, merchant payment costs and the annual assessment of Australia’s real-time gross settlement system.

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 35 basis points. It also increased the interest rate on Exchange Settlement balances from zero per cent to 25 basis points.

At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent.

The Governor, Philip Lowe, today warmly welcomed the appointment by the Treasurer of Michele Bullock to the position of Deputy Governor of the Reserve Bank of Australia and as a member of the Reserve Bank Board.

BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa develop experimental multi-CBDC platform for international settlements.

The Reserve Bank of Australia has renewed its bilateral local currency swap agreement with Bank of Japan.

Resignation: Deputy Governor

Michael Plumb has been promoted to Head of Banking at the Reserve Bank of Australia. He will take up the position on 7 March 2022 and will report to Michelle McPhee, Assistant Governor (Business Services).

At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent.