tl;dr
The Reserve Bank of Australia (RBA) is prioritizing its focus on wholesale central bank digital currency (CBDC) rather than retail CBDC, according to RBA assistant governor Brad Jones. The RBA's work agenda on digital money will center on wholesale CBDC used by banks and financial institutions, as i...
The Reserve Bank of Australia (RBA) is prioritizing wholesale central bank digital currency (CBDC) over retail CBDC, focusing on economic benefits and stability in wholesale market transactions. The RBA's three-year research program will launch a new project on wholesale CBDC and tokenized commercial bank deposits. Assistant Governor Brad Jones emphasizes the strategic commitment to wholesale digital money and infrastructure, considering it to offer more economic benefits and fewer challenges than retail CBDC.
According to Jones, the potential benefits of retail CBDC in Australia appear modest at present, posing challenges for financial stability and monetary policy implementation. As a result, the RBA is directing its efforts toward wholesale digital money and infrastructure, recognizing the stabilizing role of central bank money in the settlement of wholesale market transactions, particularly in systemically important markets.
In line with this focus, the RBA's most immediate priority in its three-year applied research program is to launch a new project on wholesale CBDC and tokenized commercial bank deposits. Jones reiterates that, due to the limited potential benefits and the significant challenges associated with retail CBDC, a strong public policy case for issuing a retail CBDC in Australia is yet to emerge.
More about RB Global Inc.
Ritchie Bros. - Stock Analysis Summary Ritchie Bros. Stock Analysis Summary
Company: RB Global Inc., Ritchie Bros.
Headquarters: Burnaby, Canada
Industry: Trade & Services, Business Services
Market Cap: $15,485,758,000
Current Stock Price: $46.1
Change: 1.1 ( 1.82%)
52-Week Range: $23.07 - $131.34
Dividend Yield: 0.0868
Volume: 4,221,500,000
P/E Ratio: 0.286
EPS: -0.009