At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent.

The Reserve Bank of Australia has published the dates for the 2024 meetings of the Reserve Bank Board, and the related announcements and publications.

The Treasurer, the Hon Dr Jim Chalmers MP, has appointed Michele Bullock as Governor of the Reserve Bank of Australia for a seven-year term commencing 18 September 2023.

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent.

Mastercard and Visa have each given undertakings to the Reserve Bank that they will not engage in ‘tying conduct’ involving their debit and credit card products.

The Bank has released an Issues Paper outlining some options for further enhancing the competitiveness, efficiency and safety of Australia’s debit card market.

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 4.10 per cent. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.00 per cent.

In January 2023, the Reserve Bank of Australia commissioned a comprehensive review of the operating environment supporting the Reserve Bank Information and Transfer System (RITS). This system is a critical part of Australia’s payments infrastructure and is owned and operated by the Reserve Bank. The review, conducted by Deloitte, was requested by the Payments System Board (PSB) following a major outage of the system on 12 October 2022.

Today’s Payments System Board meeting discussed the Bank’s targeted self-assessment of Australia’s real-time gross settlement system against the relevant international standards, the pricing of New Payments Platform services, competition in the debit card market, improving the security of debit card transactions in the online environment and the results of the Bank’s 2022 Consumer Payments Survey.

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.85 per cent. It also increased the rate paid on Exchange Settlement balances by 25 basis points to 3.75 per cent.