Reserve Bank of Australia

Spenders still cautious on Xmas credit card use

December 18, 2009 - 12:10pm | News | Plastic cards

Consumers remain prudent about using their credit cards for the Christmas period, preferring instead to use cash or debit cards, an economist says.
CommSec economist Savanth Sebastian said consumers were not prepared to spend beyond their means and take on additional debt, even with Christmas approaching.
"They are happy to use cash, they are happy to use debit cards, they certainly do not want to use credit cards," Mr Sebastian said. "It will be a trend that will remain in force until next year.”

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RBA: "Conditions in international financial markets continue to improve"

August 14, 2009 - 7:02am | Analytics | News

Glenn Stevens, Reserve Bank of Australia governor, told a House of Representatives Economics Committee hearing in Sydney on Friday that economic conditions in the global economy have improved in the past few months. "Conditions in international financial markets continue to improve. Extreme risk aversion has abated, spreads have narrowed and capital markets have continued to thaw, even though in some cases that has relied on central banks financing activity," he said.

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Australian economy declined for the first time since 2000

March 4, 2009 - 2:13am | Markets | News

For the first time since the year 2000 Australian economy shrunk. It dropped by 0.5% that’s more than forecasted 0.2% decline. So the economic growth rate comes from 1.2% to 0.3% in 2008. It’s noticeable that over the last 5 days the expectation for Australia’s growth rate rose from 0.4% to 0.5% on the quarter.

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RBA Payments System Board expressed its opinion on PayPal rules

February 25, 2009 - 6:20am | Banks and internet banks | News

Recently, the Payments System Board of Reserve Bank of Australia (RBA) at its meeting presented a number of issues. Besides the reform of the ATM system, disclosure arrangements for equities securities lending, the oversight of foreign central counterparties the Board revealed its view on limitation imposed on merchants by PayPal.

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