What is the Role of Australia Forex Regulatory Authority?

Australia is amongst the fastest growing trade markets in the world. Its value can be seen from the fact that in 2009, the nation reported a GDP of US$1025 billion, which amounts to 1.64% of the world economy. The role of the Forex Regulatory Authority is fulfilled by the Reserve Bank of Australia (RBA). Its board members meet on the first Tuesday of each month, which means eleven times a year (no meetings in January), to roll out policies that ensure low and stable inflation, financial stability, and efficiency of the payment system.Australia is a debt ridden economy. In 2008, its debt stood at US$2.5 billion. The policies of the RBA tend to be a little inclined towards trying to decrease this deficit.Functioning of Australia’s Forex Regulatory AuthorityThe RBA has a Domestic Market...