BOJ Expected to Hold Rates Steady While Signaling More Hikes Ahead 
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Gold Prices Slip From 10-Week High as Fed and Hormuz Risks Shape Outlook 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Singapore Central Bank’s Exchange Rate Policy Explained: Why MAS Uses the S$NEER Instead of Interest Rates 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
Add as a preferred source on Google
Australia’s central bank is preparing to modernize its interbank settlement infrastructure, which processes about A$300 billion (US$194.9 billion) in daily transactions. Reserve Bank of Australia (RBA) Governor Michele Bullock announced that starting next year, the bank will begin evaluating ways to upgrade the Reserve Bank Information and Transfer System (RITS), a core part of the nation’s payments framework.
In a speech delivered in Sydney, Bullock emphasized that maintaining a secure, efficient, and innovative payments ecosystem is essential for Australia’s economic resilience. “Our payments system must remain safe, reliable, low-cost and easy to use – but also innovative and future-ready,” she said. “Maintaining and evolving our payments system is therefore not optional. It is an economic imperative.”
The RBA’s modernization efforts will explore integrating advanced data exchange technologies, extending settlement hours, and enabling more transactions through central bank money. These updates are designed to ensure RITS continues to meet the demands of an evolving digital economy and remains at the forefront of financial stability.
While RITS currently functions securely and efficiently, Bullock noted that modernization is crucial to keep it fit for purpose in the long term. The system serves as the backbone of Australia’s financial infrastructure, underpinning interbank settlements and the overall payments landscape.
Bullock’s address did not touch on interest rates or broader monetary policy ahead of the RBA’s upcoming meeting scheduled for November 3–4. Her remarks, however, underscore the central bank’s focus on ensuring Australia’s payment systems remain adaptable and globally competitive amid rapid technological advancement.
