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News: Big part of my role will be leading RBA through change -incoming Gov Bullock, page-5

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14/07/23

11:40

Post #: 68787406
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Originally posted by Director12 ↑

https://tinyurl.com/4mxcehyc

"Reserve Bank of Australia assistant governor Michele Bullock has acknowledged ultra-low interest rates are a key driver of surging interest in cryptocurrencies, and indicated the RBA is considering the creation of a “central bank digital currency” (CBDC) for use in wholesale markets. Speaking to the Women in Payments event, Ms Bullock said use cases are emerging for CBDCs, including reducing the costs of cross-border payments. She said global central bank interest in the subject is also being driven by the declining use of banknotes, and innovation in digital money driven by consumers’ search for yield."

After five years, she served briefly as assistant governor for business services before in 2016 becoming assistant governor for the financial system, which incorporated oversight of the payments system.Ms Bullock recently spoke about how the payments system had been regarded once as “the boring plumbing” but was now at the forefront of innovation as people sought to replace cheques and cash with electronic payments.

So I guess she got picked because of her speciality?

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Labor leaning female surprised she's not coloured
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