Home > United Nations Online Network in Public Administration and Finance (UNPAN)
1. Global
Global
2. Africa
Africa
3. Arab States
Arab States
4. Asia & Pacific
Asia & Pacific
5. Europe
Europe
6. Latin America & Caribbean
Latin America & Caribbean
7. North America
North America
UNPAN Asia & Pacific




Public Administration News  
Share
Australia: No Dividend from Its Reserve Bank
Source: silobreaker.com
Source Date: Thursday, October 28, 2010
Focus: Electronic and Mobile Government
Country: Australia
Created: Oct 31, 2010

For the first time since the 1970s, Australia's Reserve Bank will not be paying out a dividend.

The bank says its earnings have slumped to $AU866 million, the lowest level since 1983.

It's annual statement shows a decline in foreign interest rates and the strong Australian dollar is to blame.

The last time it was unable to pass on a dividend was in 1975.

It's a big loss for the government which was handed a $6 billion windfall from the Reserve Bank the previous year.
News Home

 Tag This
 Tell A Friend
 Favorite
del.icio.us digg this Slashdot
Rate:
0 ratings
Views: 131

Comments: 0 Favorited: 0 Bookmarked: 0 Tagged: 0



0 Comments | Login to add comment

Site map | FAQs | Terms and Privacy | Contact Us
Copyright 2008-2010 by UNPAN - United Nations Public Administration Network