Chris J de Bruin

💡 Innovation in Action: From Banknotes to Real-Time Payments For decades, the RBA has played a key role in shaping Australia’s financial infrastructure, often in collaboration with industry and research partners. 🔹 In the 1980s, we pioneered polymer banknotes with the CSIRO, making cash more secure and durable. 🔹 In recent years, we’ve supported the development of the New Payments Platform, enabling real-time payments 24/7 🔹 During the pandemic, this infrastructure helped deliver nearly 700,000 support payments in a single day. 📖 Learn how we’re preparing for the future of central banking in the Governor’s latest speech https://ow.ly/nf8850WRH7S

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As widely expected, the RBA cut the cash rate by 25bps to 3.6% today. With underlying inflation clearly inside the 2–3% target range and heading towards its 2½% midpoint, the need for restrictive monetary policy is dissipating. The updated inflation forecasts are largely unchanged but show a 2.5% at the end of the (extended) forecast horizon to December 2027. The RBA’s forecasts are predicated on further cuts to the cash rate as expressed by market pricing last week. The trough rate implied by this assumption is now sub-3%, consistent with our own view. In the press conference, the Governor did not rule out back-to-back cuts and emphasised that the MPB would take things meeting by meeting. The every-other-meeting pace implied by our own recent forecasts still seems a reasonable base case, though. The RBA has downgraded its near-term view of trend productivity growth, and hence GDP growth. Importantly, this does not imply a downgrade to the long-run trend. In addition, the RBA has moved away from its view of a year ago that slow productivity growth presented an upside risk to inflation. https://lnkd.in/g2CDM9Qv

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Macquarie Bank has joined BioCatch Trust™ Australia, further amplifying the power of this inter-bank, behavior- and device-based, real-time fraud and scams intelligence-sharing network. With Macquarie Bank on board, the network now protects more than 85% of Australia’s online banking population from fraud, scams, and financial crime. Read the complete announcement here: https://okt.to/R0X5Y6 #FinancialCrime #FraudPrevention #BankingIndustry

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Macquarie Capital is pleased to have advised Telstra on entering into a strategic partnership with Infosys through Telstra’s divestment of a 75% stake in Versent Group. The transaction will enable Telstra and Infosys to refer and leverage each other’s offerings and furthers Telstra’s ‘Connected Future 30’ strategy of focusing on core connectivity. Completion of the transaction is subject to regulatory approvals, employee consultation and other conditions.

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Global credit spreads have fallen to record lows – levels not seen since the late 1990s. Is this a warning sign, and what does this mean for investors searching for yield? In an interview with ausbiz’s Andrew Geoghegan our Head of Global Credit Solutions Frank Danieli highlights a key driver behind such tight spreads: the rise of passive investment vehicles indiscriminately buying fixed income, compressing spreads while offering limited compensation for risk. Frank also explains why private credit can provide a genuine alternative to traditional fixed income, with the potential for stronger risk-adjusted returns thanks to higher security and more defensive positioning versus unsecured bonds. As always, he emphasises the critical point that not all private credit managers are created equal. Investors must ask the right questions: Does the manager have proprietary origination capabilities? Do they have the expertise to actively manage diversified credit portfolios? Do they have the skills and experience to manage downside risk? Watch the full interview below and on our website: https://lnkd.in/gUN5-nrS

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Differing rate approaches globally highlight the absence of any large, correlated global issues - and that's good news, ANZ Chief Economist Richard Yetsenga says. WATCH: https://anz.co/3KMeC6h

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Travis Danysh, Chief Strategy Officer of Focus Financial Partners, recently spoke with Money Management Australia about the momentum building in Australia’s wealth management sector. “We like Australia for the macro trends. It has a similar regulatory environment, and it’s a market we can understand well,” shared Travis. “It doesn’t surprise me at all that you’re seeing smart investors and US financial backers look to Australia.” The article highlights how Escala Partners, now part of Focus Partners Australia, is leveraging scale to enhance client access to investment solutions, expand digital capabilities, and support the development of next-generation advisers. Read the full article here: https://lnkd.in/eQQDrKAK

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Australia’s 2035 climate targets are now set at 62–70%. We welcome this credible step, but the real test will be turning these targets into investment. Clear policy frameworks, alongside mainstream adoption of tools like the Australian Sustainable Finance Taxonomy, will give investors, lenders and other financial institutions the confidence to deploy capital at scale. These tools are critical to direct investment into the activities and assets that will support achievement of the 2035 target, while strengthening Australia’s long-term resilience and competitiveness. As Kristy Graham, CEO of ASFI, says: “A target in this range is credible, but the real test will be building the policy frameworks to turn ambition into investment and resilience.” "No matter the target, risks are already materialising. We must act by driving investment into climate mitigation, adaptation and resilience.” 📄 Read the media release: https://lnkd.in/gbqWUg5p #SustainableFinance #ClimateAction #ASFIMembers

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