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

Today’s Payments System Board meeting discussed payments system regulatory reforms, systemically important payment systems, critical infrastructure reforms, banknote distribution arrangements and CBDC developments.

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. It also decided to cease further purchases under the bond purchase program, with the final purchases to take place on 10 February.

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. It also decided to cease further purchases under the bond purchase program, with the final purchases to take place on 10 February.

Media release number 2021-30: The Reserve Bank of Australia, Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys, with input from King & Wood Mallesons, today jointly released a report to mark the successful conclusion of Project Atom.

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, and continue to purchase government securities at the rate of $4 billion a week until at least mid-February 2022.

Mr Ellis Connolly has been appointed to Head of Payments Policy Department at the Reserve Bank of
Australia. Mr Connolly was selected from a list of internal and external candidates following the
retirement of Dr Tony Richards. He will take up the position on 20 December 2021.

Today’s Payments System Board meeting discussed the Bank’s Review of Banknote Distribution Arrangements, recent government reviews and inquiries dealing with payments issues, disclosure of new reliability statistics by retail payments providers, the Bank’s 2021 assessment of LCH Limited’s SwapClear service against the Financial Stability Standards and card payments regulation.

The Reserve Bank is seeking views from interested parties by 21 January 2022 in response to its Issues Paper for the Review of Banknote Distribution Arrangements on what changes might be required to ensure that banknote distribution is effective, efficient, sustainable and resilient.