· Michele Bullock Wiki · Reserve Bank of Australia WikiRemarks - Pacific Banking Forum
Read full speech on bis.org ↗ContextDinner remarks at the Pacific Banking Forum 2024 in Brisbane; the Reserve Bank of Australia keeps the financial system stable and supports banking access in the Pacific islands.
Why it mattersThe RBA governor calls for collective action as banks withdraw from Pacific island countries.
Problems raised
- Correspondent banking relationships in the Pacific are declining.
- Domestic challenges block solutions.
- Collective action is needed.
Solutions proposed
- Act collectively to stop the decline.
- Be ready to adapt as initiatives develop.
- Overcome domestic obstacles.