News

RBA pays fed govt $1.3bn dividend

by
September 14, 2017

The Reserve Bank of Australia will pay a $1.3 billion annual dividend to the federal government.

The Reserve Bank of Australia will pay the federal government a dividend of $1.3 billion for 2016/17, a substantial reduction on the previous year after a rising Aussie dollar hurt the value of foreign asset holdings.

Australia's central bank recorded a $900 million operating loss last financial year, the RBA annual report, released on Thursday, showed, with governor Philip Lowe saying exchange rate losses and low interest rates affected the performance, while underlying earnings were $1 billion and $300 million was realised in capital gains.

The RBA paid a $3.2 billion dividend to the Commonwealth in 2015/16.

By
Login Sign Up

Dummy text