News & Announcements
November 2024
Panel participation by Michele Bullock, Governor, at the ASIC Annual Forum, Sydney
No text available.
Audio 51.7MB
Panel Participation by Brad Jones, Assistant Governor (Financial System), at the Regulators 2024 (FINSIA), Sydney
Assistant Governor (Financial System) Brad Jones discusses the Payments System Board’s strategic priorities, and financial stability.
Appearance before the Senate Economics Legislation Committee (Senate Estimates) – Canberra
Michele Bullock, Governor, and Christopher Kent, Assistant Governor (Financial Markets).
No text available.
Monetary Policy Decision
Media Conference
Audio
39.8MB
Staff Appointments
Media Release
October 2024
Central Bank Communications
Draft papers presented at the Reserve Bank of Australia 2024 Conference
Fireside Chat with Andrew Hauser, Deputy Governor, at the CBA 2024 Global Markets Conference, Sydney
No text available.
Audio
72.1MB
Inflation Expectations – Why They Matter and How They Are Formed
In this speech at an Investment Conference hosted by Citi Australia and New Zealand, Sarah Hunter, Assistant Governor (Economic), discusses inflation expectations, why they matter and how they are formed.
How Do Households Form Inflation and Wage Expectations?
Research Discussion Paper 2024-07
Review of Merchant Card Payment Costs and Surcharging
Media Release
New Release of Records on Unreserved
The latest release of archival records focuses on the papers relating to Reserve Bank Board meetings (1960 to 1984). These records include meeting minutes and agendas along with statistical data and information papers.
Panel participation by Sarah Hunter, Assistant Governor (Economic), at the Macquarie University, Sydney
No text available.
Audio
27.8MB
Review of the Term Funding Facility
Media Release
A Review of the RBAs Term Funding Facility
In this speech at an event hosted by the Reserve Bank of Australia, Christopher
Kent, Assistant Governor (Financial Markets), discusses the review the
RBA has just published on the Term Funding Facility (TFF).
Audio
34MB
From the Shadows to the Podium: Central Banks and the Press
Remarks by Andrew Hauser, Deputy Governor
Audio
49MB
Q&A Transcript
September 2024
Monetary Policy Decision
Media Conference
Audio
40.5MB
Financial Innovation and the Future of CBDC in Australia
In this speech to the Intersekt Conference in Melbourne, Brad Jones, Assistant
Governor (Financial System) discusses the RBA and Treasurys latest research into
central bank digital currency (CBDC) and provides an update on projects related to
the future of digital money in Australia.
Audio
15.4MB
Q&A Transcript
Download
925KB
Examining the Macroeconomic Costs of Occupational Entry Regulations
Research Discussion Paper 2024-06
Understanding the Journey to Full Employment
In this keynote address to the Barrenjoey Economic Forum, Assistant Governor (Economic) Sarah Hunter spoke about the RBAs view of the
labour market, including how we have interpreted recent data, and what we expect over the next couple of years.
Audio
20.5MB
Panel Participation
Download
773KB
The Costs of High Inflation
In this speech at the Anika Foundation fundraising luncheon in Sydney, Governor Michele Bullock spoke about why it is imperative that we return inflation to levels that mean it is in the background again.
Audio
35.8MB
Q&A Transcript
Download
263KB
August 2024
Sign Restrictions and Supply-demand Decompositions of Inflation
Research Discussion Paper 2024-05
Opening Statement to the House of Representatives Standing Committee on Economics
Governor Michele Bullock provides an update on the Banks operations and activities, before she and senior colleagues answer questions from the Committee members.
Download
259KB
Hansard Transcript
Payments System Board Update: August 2024 Meeting
Media Release
Beware False Prophets
In this speech at the ESA Business Lunch in Brisbane, Deputy Governor Andrew Hauser spoke about the risks of overconfidence in economic commentary and ways in which central banks can avoid falling prey to it in our own deliberations.
Audio
23.1MB
Q&A Transcript
Download
1.10MB
Economic Conditions in Post-Pandemic Australia with a Regional Lens
In delivering the Rotary Club of Armidale Annual Lecture, Governor Michele Bullock
spoke about the context for the Reserve Bank Boards August decision and economic
conditions, challenges and opportunities in regional Australia.
Audio
58MB
Q&A Transcript
Download
740KB
Appearance before the Senate Select Committee on the Cost of Living – Sydney
Sarah Hunter, Assistant Governor (Economic), and Natasha Cassidy, Deputy Head of Economic Analysis.
No text available.
Monetary Policy Decision
Media Conference
Audio
41MB
Staff Appointments
Media Release
Appearance before the Parliamentary Standing Committee on Public Works – Canberra
Michelle McPhee, Assistant Governor (Business Services), Bruce Harries, Head of Workplace, and Lynne Cockerell, Acting Head of Note Issue.
No text available.
July 2024
Panel participation by John Simon, Head of Economic Research, at the Macquarie University Business School, Sydney
No text available.
Nowcasting Quarterly GDP Growth during the COVID-19 Crisis Using a Monthly Activity Indicator
Research Discussion Paper 2024-04
Remarks by Michele Bullock, Governor, at the Pacific Banking Forum 2024 Dinner – Brisbane
No text available.
Audio
3.71MB
June 2024
Strangers in Paradise
Deputy Governor Andrew Hauser spoke at the Citi A50 Australian Economic Forum about
three of the important drivers of Australias economic prosperity.
Audio
38MB
Q&A Transcript
Download
835KB
Restrictive Financial Conditions in Australia
In this speech to the ABA Banking Conference, Christopher Kent, Assistant Governor
(Financial Markets) discusses various aspects of financial conditions in Australia.
He notes that financial conditions are restrictive, particularly for households,
although less so for larger businesses.
Audio
22.4MB
Q&A Transcript
Download
887KB
ABS and RBA Joint Conference
Available papers presented at the 2024 conference on ‘Human Capital’.
Monetary Policy Decision
Media Conference
Audio
30.6MB
Online Retail Payments – Some Policy Issues
In a speech to the Merchant Risk Council, Ellis Connolly, Head of Payments Policy, discusses policy issues surrounding online retail payments and updates on reforms to the RBAs regulatory role in payments as well as the RBAs upcoming review of retail payments regulation.
Audio
62.1MB
Download
552KB
Fireside Chat by Andrew Hauser, Deputy Governor, at the Australias Economic Outlook – Sydney
No text available.
Audio 18.3MB
Appearance by Michele Bullock, Governor and Christopher Kent, Assistant Governor (Financial Markets), before the Senate Economics Legislation Committee – Canberra
May 2024
The State of Economics
In an address to the Economic Society of Australia (ESA), Jacqui Dwyer, Head of Information Department, shares the latest data on the current landscape for economics education so there can be a collective effort in addressing current challenges.
Payments System Board Update: May 2024 Meeting
Media Release
Housing Market Cycles and Fundamentals
In this speech to the REIA Centennial Congress, Sarah Hunter, Assistant Governor (Economic) talks about the dynamics of the housing market. She discusses several potential avenues through which the imbalance between housing supply and demand growth may be resolved.
Download
478KB
Demand in the Repo Market: Indirect Perspectives from Open Market Operations from 2006 to 2020
Research Discussion Paper 2024-03
2025 Reserve Bank Board Meeting Dates
Media Release
Monetary Policy Decision
Media Conference
Audio
38.7MB
April 2024
Latest Unreserved archive release
Latest release of archival records includes minutes and papers of various boards relating to the early management of the Bank (1924–59). These records are accompanied by a guide exploring the legislative history of the Bank.
Appearance before the Senate Economics Legislation Committee on Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 [Provisions] and a related bill [Provisions]
Ellis Connolly, Head of Payments Policy, and Troy Gill, Senior Manager, Payments Policy.
No text available.
Hansard Transcript
Valuing Safety and Privacy in Retail Central Bank Digital Currency
Research Discussion Paper 2024-02
Financing SME Innovation in Australia – Challenges and Opportunities
In this speech to the COSBOA National Small Business Summit, Brad Jones, Assistant
Governor (Financial System), talks about the contribution that SMEs make to our
economy and society, and the challenge and opportunities for financing SME
innovation in Australia.
Audio
19.7MB
Download
956KB
The Future System for Monetary Policy Implementation
In this speech to the Bloomberg Australia Briefing, Christopher Kent, Assistant
Governor (Financial Markets) explains the plan for the RBAs future system for
monetary policy implementation, which involves an ample reserves system with full
allotment for our Open Market Operations.
Audio
45.9MB
Q&A Transcript
Download
658KB
March 2024
Fireside Chat by Ellis Connolly, Head of Payments Policy, at the AFR Banking Summit – Sydney
No text available.
Audio 47.9MB
Q&A Transcript
Monetary Policy Decision
Media Conference
Audio
17.9MB
February 2024
Payments System Board Update: February 2024 Meeting
Media Release
Appointment of Chief Operating Officer
Media Release
Appearance before the Senate Economics Legislation Committee on Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023
Michele Bullock, Governor, and Catherine Parr, General Counsel.
No text available.
Hansard Transcript
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
Research Discussion Paper 2024-01
Appearance before the Senate Economics Legislation Committee (Additional Estimates) – Canberra
Michele Bullock, Governor, and Christopher Kent, Assistant Governor (Financial Markets).
No text available.
Hansard Transcript
The Outlook for Inflation and Employment
In a speech to the ABE Annual Forecasting Conference, Head of Economic Analysis
Marion Kohler spoke about our outlook for the economy, our assessment of spare
capacity and changes were making to enhance transparency.
Audio
26.1MB
Q&A Transcript
Download
574KB
Opening Statement to the House of Representatives Standing Committee on Economics
Governor Michele Bullock provides an update on the Banks operations and activities,
before she and senior colleagues answer questions from the Committee members.
Download
263KB
Hansard Transcript
Monetary Policy Decision
Media Conference
Audio
20.3MB
January 2024
December 2023
Adoption of Emerging Digital General-purpose Technologies: Determinants and Effects
Research Discussion Paper 2023-10
Bagehot and the Lender of Last Resort – 150 Years On
In this speech to the Australasian Finance & Banking Conference, Brad Jones,
Assistant Governor (Financial System) discusses how the application of last resort
operations has evolved around the world and how these developments have been
reflected in aspects of the Reserve Bank's own framework.
Audio
22.4MB
Q&A Transcript
Download
319KB
Modernising Australia's Payments System
In this speech to the Australian Payments Network Summit, Governor Michele Bullock
discussed how the Payments System Board is responding to changes in the payments
landscape which are being driven by new technologies and business models. The
Governor explained why it is important we modernise our regulatory architecture and
payments infrastructure to support these innovations.
Audio
37MB
Q&A Transcript
Download
486KB
Special Unreserved Archives Release
To mark the 40th anniversary of the float of the Australian dollar, key records about the float have been released on Unreserved along with a Research Guide.
Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE
Research Discussion Paper 2023-09
Financial Stability and the Financial Health of Australian Mortgagors
In a speech to the Sydney Banking and Financial Stability Conference, Head of Financial Stability
Department, Andrea Brischetto explains why financial stability is important and how the financial health
of indebted households can affect it. She also discusses how the RBA assesses and monitors the financial
health of Australians with mortgages.
Audio
22MB
Q&A Transcript
Download
776KB
Statement on the Conduct of Monetary Policy
A new Statement has been agreed by the Government and the Reserve Bank Board.
Read the Treasurer's announcement
Appointment of Chief Economist
Media Release
November 2023
Appointment: Andrew Hauser as Deputy Governor
Media Release
The Evolution of Consumer Payments in Australia: Results from the 2022 Consumer Payments Survey
Research Discussion Paper 2023-08
Payments System Board Update: November 2023 Meeting
Media Release
A Monetary Policy Fit for the Future
Speaking at the ABE Annual Dinner in Sydney, the Governor discusses the latest
monetary policy decision and details the changes that the Reserve Bank is
implementing to its monetary policy processes.
Audio
22.2MB
Q&A Transcript
Download
613KB
Australian Securitisation Markets: Responding to Change
In a speech to the Australian Securitisation Forum's annual conference, Carl Schwartz,
acting Head of Domestic Markets, talks about how the securitisation market
has evolved over recent years. He notes the securitisation markets have continued to
adapt to large changes in financial conditions.
Audio
60.5MB
Q&A Transcript
Download
840KB
Panel Participation by Michele Bullock, Governor, at the ASIC Annual Forum, Melbourne
No text available.
Audio
58MB
Q&A Transcript
Appointment of Chief Communications Officer
Media Release
The Outlook for the Australian Economy
In a speech to the UBS Australasia Conference, acting Assistant Governor (Economic)
Marion Kohler talks about how we see the outlook for the Australian economy,
approaches we use to assess where we are relative to full employment and our review
of economic forecasts for the past year.
Audio
35.2MB
Q&A Transcript
Download
565KB
Appointment of Head of Payments Settlements Department
Media Release
Panel Participation by Brad Jones, Assistant Governor (Financial System), at the Regulators 2023 (FINSIA) – Sydney
Audio 27.9MB Q&A Transcript
October 2023
Emerging Threats to Financial Stability – New Challenges for the Next Decade
In this speech at the AFIA Conference, Brad Jones, Assistant Governor (Financial
System), spoke about emerging risks to financial stability that look quite different
to those of recent decades and the importance of building resilience along various
dimensions.
Audio
16.4MB
Q&A Transcript
Download
1.12MB
Identification and Inference under Narrative Restrictions
Research Discussion Paper 2023-07
Appearance by Michele Bullock, Governor, and Christopher Kent, Assistant Governor (Financial Markets), before the Senate Economics Legislation Committee (Supplementary Budget Estimates), Canberra
Monetary Policy in Australia: Complementarities and Trade-offs
Governor Michele Bullock spoke about how the Reserve Bank Board balances its objectives for
price stability, full employment and financial stability when formulating monetary
policy at the Commonwealth Bank of Australia Global Markets Conference.
Audio
23.3MB
Q&A Transcript
Download
819KB
The Extraordinary Decline in Australia's Net Foreign Liabilities
In this speech to the CFA Societies in Sydney, Head of International Department Penelope Smith spoke
about how Australia benefited from the decision 40 years ago to float the exchange rate and liberalise
the capital account.
Audio
40.4MB
Q&A Transcript
Download
800KB
Fireside chat with Michele Bullock, Governor, at the AFSA Annual Summit Panel, Sydney
No text available.
Audio
60.4MB
Q&A Transcript
A Tokenised Future for the Australian Financial System?
In this speech to The Australian Financial Review Cryptocurrency Summit, Brad Jones,
Assistant Governor (Financial System), spoke about the opportunities and challenges
arising from the tokenisation of assets and money in the digital age. He also
discussed how these issues connect to the next phase of the Reserve Bank's strategic
work program on the future of money.
Audio
32.5MB
Q&A Transcript
Download
505KB
Channels of Transmission
In this speech to the Bloomberg Address in Sydney, Christopher Kent, Assistant
Governor (Financial Markets), spoke about how monetary policy moves through the
economy in three steps – from the cash rate to a broad range of interest rates, from
those rates to economic activity and from economic activity to inflation. He also
discussed the five main channels of monetary policy and the impact they are having
in Australia to bring down inflation.
Audio
46MB
Q&A Transcript
Download
755KB
September 2023
Inflation
Draft papers presented at Reserve Bank of Australia 2023 Conference
Latest Unreserved Archive Release
Latest release of archival records includes ledgers, correspondence and pass books from the early savings banks accompanied by photographs of the banks branches. These records can be explored further through new research guides on school banking, the 1890s depression in Australia and family history research.
Firms' Price-setting Behaviour: Insights from Earnings Calls
Research Discussion Paper 2023-06
Some Closing Remarks
Speaking at the Anika Foundation annual fundraiser, Governor Philip Lowe talked
about the main economic challenges of his term and four fixed points he has returned
to over the years.
Audio 48MB
Q&A Transcript
Download
237KB
August 2023
ASIC – RBA Issue Joint Letter of Expectations to ASX
Media Release
Climate Change and Central Banks
Deputy Governor Michele Bullock spoke about climate change, its impact on the economy and implications for monetary policy at the Sir Leslie Melville Lecture in Canberra.
Audio
49MB
Q&A Transcript
Download
1.1MB
Reserve Bank and Digital Finance CRC Complete CBDC Research Project
Joint Media Release
Payments System Board Update: August 2023 Meeting
Media Release
Opening Statement to the House of Representatives Standing Committee on Economics
Speech by Philip Lowe, Governor, Canberra
Download
227KB
Hansard Transcript
Australian Financial Markets and Climate Change
Acting Head of Domestic Markets Carl Schwartz spoke at the Risk Australia 2023
Conference about the need for the Bank to understand the implications of climate
change, and the efforts being made to address it.
Audio
15.4MB
Download
598KB
July 2023
2024 Reserve Bank Board Meeting Dates
Media Release
Appearance by Ellis Connolly, Head of Payments Policy, and Chris Thompson, Deputy Head of Payments Policy, before the Senate Economics Legislation Committee Inquiry into Digital Assets (Market Regulation) Bill 2023, Canberra
Appointment of Reserve Bank Governor
Media Release
The Reserve Bank Review and Monetary Policy
Speaking to the Economic Society of Australia (QLD), Governor Philip Lowe detailed
some of the changes the Board intends to make in response to the Reserve Bank
Review. The Governor also explained the latest monetary policy decision and
highlighted some issues the Board will focus on at the August meeting.
Audio
46MB
Q&A Transcript
Download
232KB
June 2023
Promoting Competition in the Debit Card Market
Media Release
The Impact of Interest Rates on Bank Profitability: A Retrospective Assessment Using New Cross-country Bank-level Data
Research Discussion Paper 2023-05
Achieving Full Employment
Deputy Governor Michele Bullock spoke to the Ai Group about our full employment
objective, how the labour market has evolved recently and how we are striving to
preserve many of the gains in the Australian labour market while bringing inflation
back to target.
Audio
20.2MB
Q&A Transcript
Download
909KB
Panel Participation by Christopher Kent, Assistant Governor (Financial Markets), at the ISDA/AFMA Derivatives Forum, Sydney
Audio 36.9MB Q&A Transcript
ABS and RBA Joint Conferences
Available papers presented at the 2022 conference on 'Economic Implications of the Digital Economy' and 2023 conference on 'Underneath the Headlines: Understanding Price Change in the Australian Economy'
Panel Participation by Michele Bullock, Deputy Governor, at the Australian Banking Association Annual Conference, Sydney
Audio 17.4MB Q&A Transcript
A Narrow Path
Governor Philip Lowe spoke at the Morgan Stanley 5th Australia Summit about our strategy for navigating the narrow path to return inflation to target in a reasonable timeframe while keeping the economy on an even keel.
Audio
23.1MB
Q&A Transcript
Download
950KB
May 2023
Appearance by Philip Lowe, Governor, and Brad Jones, Assistant Governor
(Financial System), before the Senate Economics Legislation Committee
(Budget Estimates), Canberra
Hansard Transcript
Strengthening the RBA's Payments Infrastructure
Media Release
Payments System Board Update: May 2023 Meeting
Media Release with issues discussed at this meeting
Australian Fixed Income Markets – Recent Developments and a Look Ahead
Head of Domestic Markets, David Jacobs, spoke at the Australian Government Fixed
Income Forum in Tokyo about the recent developments and outlook for Australia's
fixed income market including how the wind-down of the Reserve Banks balance sheet
is affecting markets.
Download
1.44KB
Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!
Research Discussion Paper 2023-04
The Why, How and What of Forecasting
Head of Economic Analysis Marion Kohler spoke to CEDA in Perth about how forecasting
is a key decision-making tool for central banks, the challenges associated with how
we forecast and our latest forecasts for growth, unemployment and inflation.
Audio
28.7MB
Q&A Transcript
Download
746KB
Remarks at the Reserve Bank Board Dinner
Governor Philip Lowe spoke at the Reserve Bank Board Dinner in Perth about the May
monetary policy decision, as well as a number of the Reserve Banks other functions
and the recently released Review of the Reserve Bank of Australia.
Audio
29MB
Q&A Transcript
Download
209KB
April 2023
New Insights into the Rental Market
This article jointly published with the Australian Bureau of Statistics draws out new insights into the private Australian rental market using a new large administrative dataset of rental properties, which is an input to the Consumer Price Index.
Reserve Bank Review
Governor Philip Lowe provides a briefing for media following the release of the
Final Report from the Review of the Reserve Bank of Australia – An RBA fit for
the future.
Q&A Transcript
Download
199KB
Review of the Reserve Bank of Australia
Media Release
Panel Participation by Michele Bullock, Deputy Governor, WEAI Monetary Panel, Melbourne
Audio 49MB Q&A Transcript
Monetary Policy, Demand and Supply
In this address, Governor Philip Lowe explains the Reserve Bank Board's monetary
policy decision at the 4 April 2023 meeting and discusses some of the factors that
are likely to bear on the economic outlook. He also talks about the importance of
returning to low inflation.
Audio
31MB
Q&A Transcript
Download
907KB
March 2023
The Shift to Electronic Payments – Some Policy Issues
In this keynote address, Ellis Connolly, Head of Payments Policy discusses the shift that Australians have made to paying for goods and services electronically and how the Bank is addressing important payments policy issues that have emerged due to this transition.
Audio
9.7MB
Q&A Transcript
Download
615KB
Unreserved
The latest release of archival records includes economic analysis from the 1970s, promotional materials about Bank services, 1960s photographs and the Coombs Collection of Australian paintings.
Doing Less, with Less: Capital Misallocation, Investment and the Productivity Slowdown in Australia
Research Discussion Paper 2023-03
Passing of Robert (Bob) Alan Johnston AC
On behalf of current and former colleagues at the Reserve Bank, the Governor, Philip Lowe, records with deep regret that former Governor Robert Alan Johnston AC died on 20 March 2023, aged 98. He was Governor of the Reserve Bank from 1982 to 1989.
Long and Variable Monetary Policy Lags
In this speech, Assistant Governor (Financial Markets) Christopher Kent explains
recent temporary changes that have lengthened the time it takes for monetary
policy to affect spending via its effect on the cash flows of borrowers.
Audio
13.7MB
Q&A Transcript
Download
576KB
Inflation and Recent Economic Data
In this keynote address, Governor Philip Lowe explains the positive labour market outcomes of recent years and the factors the Reserve Bank Board is paying close attention to as it navigates the narrow path to bring inflation back to target.
Download
905KB
Audio
22.9MB
Research Project Exploring Use Cases for CBDC
Joint Media Release
Did Labour Market Concentration Lower Wages Growth Pre-COVID?
Research Discussion Paper 2023-02
Remarks at IIF Australia Forum, Westpac – Sydney
Brad Jones, Assistant Governor (Financial System).
No text available.
Audio
12.1MB
February 2023
Appearance before the Parliamentary Joint Committee on Corporations and Financial Services
Michele Bullock, Deputy Governor, and Adam Cagliarini, Deputy Head (FMI) Payments Policy Department. No text available.
Opening Statement to the House of Representatives Standing Committee on Economics
Speech by Philip Lowe, Governor, Canberra
Download
237KB
Hansard Transcript
Payments System Board Update: February 2023 Meeting
Media Release with issues discussed at this meeting
Appearance before the Senate Economics Legislation Committee (Supplementary Budget Estimates) – Canberra
Philip Lowe, Governor and Michele Bullock, Deputy Governor. No text available.
Hansard Transcript
New $5 Banknote Design
Media Release
Opening Statement to the Senate Select Committee on the Cost of Living
Marion Kohler, Head of Economic Analysis Department and
Tom Rosewall, Deputy Head of Economic Analysis Department
Download
210KB
Hansard Transcript
January 2023
The Effect of Credit Constraints on Housing Prices: (Further) Evidence from a Survey Experiment
Research Discussion Paper 2023-01
Appointment of Head of Domestic Markets
Media Release
Estimating the Effects of Monetary Policy in Australia Using Sign-restricted Structural Vector Autoregressions
Research Discussion Paper 2022-09
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