The man who launched Australia’s crushing rate rise cycle pocketed more than $1m in his final year at the central bank. Philip Lowe stepped down as Reserve Bank of Australia governor after seven years in September. The RBA’s 2023 annual report shows his salary for 2022-23 hit $1,147,465 – aContinue Reading
Australia’s Reserve Bank has revealed a slimmed down schedule that outgoing governor Phillip Lowe says will contribute to “better decision-making”. On Tuesday, the bank published its meeting schedule for 2024 outlining how its board will now meet every six weeks from February 5. The move comes after an independent reviewContinue Reading
The Reserve Bank governor will hold press conferences after each meeting on interest rates to explain decisions to homeowners under a major shake-up of the central bank. In a landmark report that details the lessons learned during the Covid-19 pandemic, the key failings of the bank have been outlined byContinue Reading
Australia’s $5 note is set to undergo a royal redesign following the decision to dump King Charles III from the legal tender. The British head of state will be replaced with a new design which “honours the culture and history of the First Australians“, the Reserve Bank confirmed on Thursday.Continue Reading