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5 Found helpful • 6 Pages • Essays / Projects • Year: Pre-2021
The Reserve Bank of Australia (RBA) is Australia’s central bank which plays a significant role in the economy. The RBA is primarily responsible for conducting monetary policies and the oversight and regulation of the financial markets (Bernanke, Olekalns, & Frank, 2014). There are various legislations underlying the roles and functions of the Reserve Bank. Under the Reserve Bank Act 1959, monetary and banking policies focus on the stability and maintenance of Australia’s currency, employment and the economic prosperity and welfare of Australian people (Reserve Bank of Australia, 2017).
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