Reserve Bank of Australia Governor Michelle Bullock said in the central bank's annual report that due to higher bond yields and the appreciation of the Australian dollar, the Reserve Bank of Australia recorded an accounting loss of 8.5 billion Australian dollars in the 12 months ending June 30. Bullock said in the annual report released on Thursday: “Underlying earnings are still negative because the yield on most of our domestic assets continues to be lower than the cost of interest payments on settlement account liabilities, but we expect this situation to reverse in the next few years.” As of June 30, this loss reduced the net assets of the Reserve Bank of Australia to negative $11.3 billion. Bullock pointed out that this net asset situation will not affect the operation of the central bank, nor will it weaken its ability to implement monetary policy, but the board believes that in the long run, it is necessary to restore the capital level of the Reserve Bank of Australia.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.