Reserve Bank of Australia

The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to promote the economic prosperity and welfare of the Australian people, now and into the future. It does this by setting monetary policy to achieve both low and stable inflation and full employment, contributing to the stability of Australia’s financial system, supporting the efficiency and resilience of the payments system, and issuing the nation's banknotes. The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves and operates Australia's high-value payments system. The RBA has three boards: the Monetary Policy Board, the Payments System Board and the Governance Board.