The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
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The ABA welcomes the appointment of Michele Bullock as the new Reserve Bank of Australia (RBA) Governor.
The ABA acknowledges RBA Governor Phillip Lowe’s strong leadership of the central bank during one of Australia’s most turbulent periods, the COVID-19 pandemic.
The RBA continues to address the nation’s inflation challenge with today’s 0.25% increase in the cash rate target, to 4.10%.
As the RBA seeks to address the inflation challenge, overall bank data indicates Australian mortgage holders remain well-placed to navigate this difficult period. Household savings are high, and unemployment remains at close to record lows. Feedback from banks is that there have been no increases in hardship applications so far.
ABA CEO Anna Bligh spoke on ABC radio on how banks are responding to the floods across NSW, and the RBA’s moves to curb inflation.