RBA Finds No Current Case for Australian Retail CBDC

A retail central bank digital currency would give Australian households and businesses access to digital money issued directly by the Reserve Bank of Australia, distinct from commercial bank deposits, stablecoins and cryptocurrencies. It would complement rather than replace cash, with A$1 of CBDC exchangeable one-for-one for A$1 in cash or deposits. Policymakers have examined whether such a currency could improve payment resilience, innovation and monetary sovereignty, while weighing cybersecurity, implementation costs and disruption to banks.

The RBA and Australian Treasury said in a September 3, 2026 report that no clear public-interest case for issuing a retail CBDC had emerged, reaffirming their 2024 assessment. Verian conducted 33 focus groups with 239 participants across Australia between February and July 2026. About 30% were indifferent to the idea and 40% liked it in principle, but most saw no immediate need or unique benefit. No issuance decision has been made, and authorities will continue monitoring payments, cash access and tokenised money.