The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functionsand powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of thecurrency, full employment, and the economic prosperity and welfare of the Australian people.It does this by setting the cash rate to meet an agreed medium-term inflation target,working to maintain a strong financial system and efficient payments system,and issuing the nation's banknotes.

The RBA provides certain banking services as required to the Australian Government andits agencies, and to a number of overseas central banks and official institutions.Additionally, it manages Australia's gold and foreign exchange reserves.