Funds & SavingsRegulators

Reserve Bank of Australia

The Reserve Bank of Australia is Australia's central bank, responsible for monetary policy, issuing the Australian dollar and maintaining financial system stability.

The Reserve Bank of Australia (RBA) is the central bank of Australia, established in its current form in 1960 when central-banking functions were separated from the Commonwealth Bank.[1] Headquartered in Sydney, it sets monetary policy, issues the Australian dollar and oversees the payments system.[1]

Monetary policy

The Reserve Bank Board sets the cash rate target with an inflation objective of 2 to 3 percent on average over time, a framework comparable in spirit to the Bank of Israel's 1 to 3 percent target.[2]

Financial stability

The RBA shares responsibility for financial stability with APRA and ASIC, and operates Australia's real-time gross settlement system.[1]

Sources

  1. [1] Reserve Bank of Australia — RBA Primary source

    Cited for: Established 1960; sets monetary policy and issues the Australian dollar

  2. [2] Reserve Bank of Australia — Wikipedia

    Cited for: Inflation objective of 2 to 3 percent on average over time