"The solutions to the problems the country faced lay elsewhere," Lowe added referring to fiscal policy, which he said, has provided "welcome support" to the economy. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Sie können Ihre Einstellungen jederzeit ändern. Australia central bank: Fiscal stimulus needed to revive coronavirus-stricken economy Economy 01 Sep 2020 Australia central bank holds rates, expands bank funding scheme Please consider using a different web browser for better experience. $('#spanCopyright').text(theDate.getFullYear()) The Reserve Bank of Australia (RBA) has left the cash rate at a record low 0.25% since an emergency cut in March, but has recently pledged to do more to boost growth. RBA China is perhaps the furthest along, and is currently in the testing phase for a digital yuan. SYDNEY: The Reserve Bank of Australia (RBA) Board was studying the benefits that would come from buying longer-dated government bonds as part of its monetary stimulus package to boost jobs and growth, Governor Philip Lowe (pic) said on Thursday. We are committed to do what we reasonably can, with the tools we have, to support the recovery of the Australian economy.". The Reserve Bank of Australia … Tags / Keywords: The Reserve Bank of Australia on Tuesday announced its decision to maintain the current policy settings. Wir und unsere Partner nutzen Cookies und ähnliche Technik, um Daten auf Ihrem Gerät zu speichern und/oder darauf zuzugreifen, für folgende Zwecke: um personalisierte Werbung und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr über die Zielgruppe zu erfahren sowie für die Entwicklung von Produkten. Central banks worldwide are looking at CBDCs and to determine whether it would make sense to create and issue a tokenized version of their national currencies. Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. Yahoo ist Teil von Verizon Media. “Even though the use of cash for transactions is declining, cash is still widely available and accepted as a means of payment,” he said. During his speech, Lowe opened the door for another cut to the cash rate from a record low 0.25% now, saying monetary easing would become more effective as the economy loosens its coronavirus restrictions. , Still, the RBA is still evaluating and experimenting with the underlying technology, he said. "These are three of the complex issues we have been considering at our recent Board meetings," Lowe said. Philip Lowe Star Media Group Berhad (10894D), {{item['V1 Header']}} In his words, this wholesale CBDC could be used as an interbank payment system or for tokenized financial assets. It's simple! Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. In his speech the top central banker said on Thursday monetary easing would become more effective as the economy loosens its coronavirus restrictions, an indication another cut to the official cash rate was under consideration. {{item['V1 Body']}} }) In a speech in Sydney, Governor Philip Lowe said the Board has been considering what more it can do to support jobs, incomes and businesses to help build the "road to recovery," though a decision has not yet been made. "As the economy opens up, though, it is reasonable to expect that further monetary easing would get more traction than was the case earlier.". Australian Central Bank Sees ‘No Strong Public Policy Case’ for CBDC. By signing up, you will receive emails about CoinDesk products and you agree to our, The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a, Cryptographers Are Always Going to Be ‘One Step Ahead’ of Regulators: Monero’s Spagni, First Mover: ‘Blue Wave’ in US Senate Could Mean Flood of Stimulus for Bitcoin, Luno Exchange Launches Interest-Earning Bitcoin Wallet, FIL Miners Force Filecoin to Speed Up Token Rewards Following Mainnet Launch. “In addition, Australian households and businesses are well served by a modern, efficient and resilient payments system that has undergone significant innovation in recent years, including the introduction of the New Payments Platform, which is a real-time, 24/7 and data-rich electronic payments system.”, Still, he did not discount the fact that the bank might change its mind in future: His group will continue to examine the merits or concerns around introducing a CBDC, he said, including “the conditions in which significant demand for a CBDC might emerge.”. Other considerations include the problems a potential retail CBDC would solve and what issues the introduction of such a digital currency might create, he said. Lowe said the RBA would review how much traction any further monetary easing might get to rescue the country's economy from recession at its upcoming board meetings. Keep track and manage your login sessions and devices here. "When the pandemic was at its worst and there were severe restrictions on activity we judged that there was little to be gained from further monetary easing," Lowe said. Oct 14, 2020 at 03:59 UTC Updated Oct 14, 2020 at 15:20 UTC. The Australian central bank sees no need to issue its own retail digital currency just yet, a top official said Wednesday. RBA governor opens door for further easing, Australia central bank holds rates, but signals more easing soon, Australia central bank: Fiscal stimulus needed to revive coronavirus-stricken economy. bond buying , Ten-year bond futures rallied on the remark, rising 6.5 ticks to 99.225, the highest since April 2020. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Australia "The Board will continue to review these and other issues at our upcoming meetings. Dies geschieht in Ihren Datenschutzeinstellungen. ,
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