Posts

Cryptocurrency Regulations are on its way

Image
 Cryptocurrency Regulations are on its way Australia has generally been regarded as a relatively friendly and stable jurisdiction for blockchain and cryptocurrency businesses to operate in. This has been driven in part by Australia’s overall approach to the financial technology (fintech) sector, with the Commonwealth Government of Australia (Government) supportive of broad growth and innovation. There has been a proliferation of product offerings from the Australian blockchain and cryptocurrency community, and the Australian approach to the sector has broadly remained supportive of new and innovative financial services and products using or transacting cryptocurrencies.  In part, the expansion of the sector in Australia has been led by businesses in the payments, crypto asset, lending, investment and custodial services spaces. In October, an official from the Reserve Bank of Australia said that there is no strong case for a central bank digital currency in Australia, but tha...
Post a Comment
Read more

Rates on hold but RBA adjusts their stance

Image
 Rates On Hold But RBA Adjusts Their Stance As foreshadowed late last week, the RBA has abandoned their yield curve target, discontinuing their objective to keep the Australian government bond yield at 0.1%.  The other facets of monetary policy were held firm, with the RBA keeping the cash rate at 0.1% and continuing to purchase government securities at the rate of $4 billion per week until at least mid-February 2022.  According to the RBA, scrapping the yield target reflects improving economic conditions as well as a higher and earlier than expected inflation outcome – a reference to the 2.1% core inflation reading recorded over the year to September 2021. The RBA board has reiterated their stance that the cash rate won’t move higher until inflation is sustainably within their 2-3% target range, implying a requirement for tighter labour markets and a ‘material’ boost in wages growth before the inflation requirement is met.   Private sector economists are increasingl...
Post a Comment
Read more