RBA to Release Assessment on Digital Australian Dollar in 2026/27

The Reserve Bank of Australia (RBA) has announced that it will release a comprehensive assessment of the public policy case for a retail central bank digital currency (CBDC) in 2026/27. This decision comes after focus groups suggested limited public enthusiasm for the idea of a digital version of the Australian dollar.

A CBDC would be a digital form of central bank money available to the general public, not just to banks. It would combine the safety of a direct claim on the central bank with the convenience of digital payments. However, introducing such a currency would require weighing various factors, including its potential impact on existing payment methods and the role of banks in the economy.

The RBA has framed the coming work as an assessment of the public policy case, which suggests a broad cost-benefit judgment rather than a narrow technical evaluation. This will involve considering consumers, businesses, banks, the stability of the financial system, and the RBA's own role.