Tag Archives: Reserve Bank of Australia

Australians cancelled 800,000 credit cards during COVID-19

By: Aleks Vickovich While Australia’s national net debt has blown out by 40 per cent to $703 billion thanks largely to the pandemic, it seems regular folks around the country have taken a more prudent approach, reducing their collective credit card bill by more than $7 billion over the same period. According to the latest data from the Reserve Bank of Australia, ...

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Reserve Bank cuts interest rates to a record low

By: Rachel Clayton and Rachel Pupazzoni The Reserve Bank cut interest rates to a record low of 0.1 per cent on Tuesday. The cut to 0.1 per cent is down from the previous record low of 0.25 per cent, which was announced earlier this year. Alongside the drop in the official cash rate, the RBA lowered its three-year bond rate target to 0.1 ...

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New $100 note released into circulation

The Reserve Bank of Australia released the new $100 banknote on 29 October 2020.    It celebrates Sir John Monash, an engineer, soldier and civic leader and Dame Nellie Melba, an internationally renowned soprano.  New security features have been used to make the bill “impossible to forge” include a reversed number 100 and the image of a three-dimensional fan. The ...

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