The Future of Cash

Cassie Davies, Mary-Alice Doyle, Chay Fisher and Samual Nightingale
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Cassie Davies: Reserve Bank of Australia
Mary-Alice Doyle: Reserve Bank of Australia
Chay Fisher: Reserve Bank of Australia
Samual Nightingale: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2016, 43-52

Abstract: Australian consumers have increasingly been using electronic payment methods in preference to cash for their transactions. The overall demand for cash in Australia, however, remains strong. There is ongoing demand for cash for non-transaction purposes, particularly as a store of wealth. While the role of cash in society is evolving, it is likely to remain an important feature of the payments system and economy for the foreseeable future. Moreover, the current mix of banknote denominations continues to meet community demand for a secure means of payment and store of wealth. Given the ongoing importance of cash, the Reserve Bank will maintain the public's confidence in Australia's banknotes by continuing to ensure that banknotes are of high quality and secure from counterfeiting.

Keywords: Cash; currency demand; banknote demand; cash demand; banknotes; circulation; payments system; payment methods; payments mix; cash distribution; cash use; cash holdings; hoarding; store of value; survey of consumer use of payment methods; high-denomination; resource costs; payment costs study (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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