RBA’s Lowe concentrates on payments system and digital economy

The Reserve bank of Australia (RBA) Governor Philip Lowe recently crossed wires while speaking at the AusPayNet Summit, in Sydney. The RBA official concentrated on the subject lines of “Payments System for the Digital Economy” and refrained from any comments relating to either the Australia economy or monetary policy actions.

Key quotes

In my remarks today, I would like to do three things.

The first is to talk about some of the progress that has been made over recent years.

The second is to highlight a few areas where we would like to see more progress, particularly around payments and the digital economy.

And third, I will highlight some of the questions we will explore in next year's review of retail payment regulation in Australia.

Read more: A Payments System for the Digital Economy

FX implications

Despite witnessing no clues, AUD/USD remains on the back foot around 0.6825 amid a broad risk-off ahead of the key events. third quarter (Q3) House Price Index and Mid-Year Economic and Fiscal Outlook to offer immediate clues ahead of China’s November month Consumer Price Index (CPI) and Producer Price Index (PPI) data.