Our Role RBA
-
Upload
11223366wc -
Category
Documents
-
view
218 -
download
0
Transcript of Our Role RBA
-
8/12/2019 Our Role RBA
1/15
-
8/12/2019 Our Role RBA
2/15
Australias Central BankCommenced operations in 1960
Monetary policy
Market operations
Financial stability
Payments system
Government banking
Banknotes
-
8/12/2019 Our Role RBA
3/15
Monetary PolicyOur objectivesStability of the currency
Full employment
Economic prosperity and welfare of
the people of Australia
Inflation target
Keep inflation at 2!3 per cent, on
average, over the medium term
Reserve Bank Board
Governor, Deputy Governor, Treasury Secretary and six external members
Monthly meeting includes a decision about setting the cash rate
-
8/12/2019 Our Role RBA
4/15
Monetary Policy The RBA adjusts the cash rate to try and keep the growth of total spendingin line with potential output thereby ensuring that inflation is low and stable
Amount ofgoods and
services
Time
Potential outputTotal spending
Fallingunemployment,rising inflation
Risingunemployment,falling inflation
-
8/12/2019 Our Role RBA
5/15
Cashrate
Exchangerate Import prices
Expectations
Interest rates
Spending
Inflation
Monetary Policy Adjusting the cash rate affects spending and inflation throughseveral channels, such as:
-
8/12/2019 Our Role RBA
6/15
Market Operations
To implement monetary policy, the
RBA sets the cash rate
Banks borrow or lend from each
other overnight at the cash rate
Open market operations keep thecash rate at target each day
-
8/12/2019 Our Role RBA
7/15
-
8/12/2019 Our Role RBA
8/15
-
8/12/2019 Our Role RBA
9/15
Financial Stability Smooth flow of funds between savers
and investors supports economic growth
Safe and robust financial market
infrastructure
Coordinate with financial regulators
Crisis management capability,
including liquidity support
The RBA monitors financial system health,
published in Financial Stability Review
-
8/12/2019 Our Role RBA
10/15
Payments System Allows consumers and businesses to
transfer funds to each other
Payments System Board
Promotes efficiency and competitionin means of payment, including
credit and debit cards
Oversees key financial marketinfrastructure to promote stability in the payments system
Reserve Bank Information and Transfer System (RITS)
The RBA runs Australias real-time gross settlement system
-
8/12/2019 Our Role RBA
11/15
Payments System RBA at the core, settling all electronic transactions between banks securely
RBA
(RITS)
International& high-value
payments
Debtsecurities
Transfersbetweenbanks
Cards, directentry, cheques
Equitysecurities
-
8/12/2019 Our Role RBA
12/15
Government Banking Banker to the Australian
Government, maintaining its
core cash accounts
Facilitate government payments
to households and businesses,including on behalf of:
! Centrelink
! Medicare
! Australian Taxation Office
-
8/12/2019 Our Role RBA
13/15
Banknotes The RBA manages Australias banknotes, including
production, issue and distribution
Aim to maintain Australians confidence
in banknotes as a payment method
Printed on polymer substrate withhard-to-counterfeit security features
Meet the demand of households and businesses
for banknotes
Maintain high quality by withdrawing and replacing
damaged notes
http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://banknotes.rba.gov.au/ -
8/12/2019 Our Role RBA
14/15
Australias Central Bank
Our locations
Head Office in Sydney
State Offices in Adelaide, Brisbane,
Melbourne and Perth
Branch in Canberra
Overseas offices in Beijing, London and
New York
-
8/12/2019 Our Role RBA
15/15
For more information
Visit the Reserve Bank website: rba.gov.au
Monetary policy
Market operations
Financial stability
Payments system
Government banking
Banknotes
http://banknotes.rba.gov.au/http://www.rba.gov.au/fin-services/index.htmlhttp://www.rba.gov.au/payments-system/index.htmlhttp://banknotes.rba.gov.au/http://banknotes.rba.gov.au/http://www.rba.gov.au/fin-services/index.htmlhttp://www.rba.gov.au/fin-services/index.htmlhttp://www.rba.gov.au/payments-system/index.htmlhttp://www.rba.gov.au/payments-system/index.htmlhttp://www.rba.gov.au/fin-stability/index.htmlhttp://www.rba.gov.au/fin-stability/index.htmlhttp://www.rba.gov.au/mkt-operations/index.htmlhttp://www.rba.gov.au/mkt-operations/index.htmlhttp://www.rba.gov.au/monetary-policy/index.htmlhttp://www.rba.gov.au/monetary-policy/index.htmlhttp://www.rba.gov.au/http://www.rba.gov.au/