Reserve Bank of Australia
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.
Institutional profile
Institutional role and background
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. [3]
The Bank's duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by conducting monetary policy to meet agreed inflation and full employment objectives, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes. [3]
The RBA also provides services to the Government of Australia and services to other central banks and official institutions. The RBA currently comprises the Payments System Board, which sets the payment system policy of the bank, and the Reserve Bank Board, which sets all other monetary and banking policies of the bank. [3]
Both boards consist of members of the bank, the Treasury, other Australian government agencies, and leaders of other institutions that are part of the Australian economy. The structure of the Reserve Bank Board has remained consistent ever since 1951, with the exception of the change in the number of members of the board. The governor of the Reserve Bank of Australia is appointed by the Treasurer and chairs both the Payment Systems and Reserve Bank Boards and when there are disagreements between both boards, the governor resolves them. [3]
Selected introductory text by Wikipedia contributors — Reserve Bank of Australia, under CC BY-SA 4.0. Official facts are cited separately.
Institutional history
Establishment date in the institutional background record. [2]
Source-supported connections
Frequently asked questions
When was Reserve Bank of Australia established?
1960-01-14. See the linked source for the institutional record. [2]
Where is Reserve Bank of Australia headquartered?
City of Sydney. See the linked source for the institutional record. [2]
Reserve Bank of Australia connection map
Select a node to inspect the relationship and source.
Links retain their source-specific meaning. Award-time affiliations and links to related reading are not claims about current appointments or economic causation.
Sources and review dates
- Reference source ↗
- Wikidata background facts (CC0) ↗
- Wikipedia contributors — Reserve Bank of Australia (CC BY-SA 4.0) ↗
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.