Reserve Bank of AustraliaThe Reserve Bank of Australia (RBA) was created on January 14, 1960 to be Australia's central bank and sole issuer of banknotes. Since then, the RBA has offered banking services to the Federal Government of Australia, and to licensed banks that participate in the federal banking system. It is run by the Governor of the Reserve Bank and has its headquarters in Sydney. It is the RBA's duty to ensure that its monetary and banking policies provide the greatest advantage to the Australian population. Its primary objectives are to maintain the stability of Australia's currency, maintain full employment, and to promote the economic prosperity and welfare of the people of Australia. Through its current monetary policy, the RBA strives to maintain an annual inflation rate somewhere between 2% and 3%. This target was set back in 1993 by Bernard Fraser who was the Reserve Bank Governor at that time. It was later formalized in 1996 by the Treasurer Peter Costello and incoming Reserve Bank Governor Ian McFarlane. With the Australian dollar being the sixth most heavily traded currency in the world, the policies of the RBA can have a profound affect on the currency exchange. For more information about the RBA and how it can affect the forex market, visit their homepage at the following link:
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