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The Reserve Bank of Australia will ban surcharges on most credit and debit card payments from October 1. The change aims to save consumers $1.6 billion annually by eliminating complex fees on debit ...

A conflict at the heart of the Reserve Bank's mandate could determine the outcome of its next interest rates decision. Minutes from the central bank's March meeting published on Tuesday revealed a ...

Merchants will be banned from surcharging the cost of accepting credit and debit card payments from October 1, in a suite of reforms the RBA hopes will ultimately drive down costs for traders and ...

On Tuesday, the RBA released its long-awaited review of merchant card payment costs and surcharging. As part of three key changes, the RBA says it is removing surcharging on debit, prepaid and credit ...

The RBA will remove surcharges on debit and credit cards, saving consumers and businesses about $1.8 billion each year. The package of reforms also includes lowering the caps on interchange fees paid ...

“In response to the post-pandemic surge in inflation in 2022, the Reserve Bank took what it described as a narrow pathway approach to meeting its objectives. In short, it tightened monetary policy by ...

Australia’s central bank Deputy Governor Andrew Hauser warned that inflation is still “too high” and remains a significant challenge for the interest-rate setting board, which can’t allow it to go on ...

The Reserve Bank of Australia (RBA) broke a two-year holding pattern by raising the official cash rate by 25 basis points to 3.85%. This decision marked the first rate hike since November 2023, ...