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The Future of Cash

Author

Listed:
  • 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)

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.

Suggested Citation

  • Cassie Davies & Mary-Alice Doyle & Chay Fisher & Samual Nightingale, 2016. "The Future of Cash," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 43-52, December.
    • Handle: RePEc:rba:rbabul:dec2016-05
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2016/dec/pdf/rba-bulletin-2016-12-the-future-of-cash.pdf
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    References listed on IDEAS

    as
    1. John Bagnall & David Bounie & Kim P. Huynh & Anneke Kosse & Tobias Schmidt & Scott Schuh, 2016. "Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data," International Journal of Central Banking, International Journal of Central Banking, vol. 12(4), pages 1-61, December.
    2. John Bagnall & Darren Flood, 2011. "Cash Use in Australia: New Survey Evidence," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 55-62, September.
    3. Kenneth S. Rogoff, 2016. "The Curse of Cash," Economics Books, Princeton University Press, edition 1, number 10798.
    4. Chris Stewart & Iris Chan & Crystal Ossolinski & David Halperin & Paul Ryan, 2014. "The Evolution of Payment Costs in Australia," RBA Research Discussion Papers rdp2014-14, Reserve Bank of Australia.
    5. Tom Cusbert & Thomas Rohling, 2013. "Currency Demand during the Global Financial Crisis: Evidence from Australia," RBA Research Discussion Papers rdp2013-01, Reserve Bank of Australia.
    6. Alan J. Richardson, 2016. "Managing Revenue and Costs to Implement Strategy: The Conference Organizer's Dilemma," Accounting Perspectives, John Wiley & Sons, vol. 15(4), pages 331-335, December.
    7. Fish, Tom & Whymark , Roy, 2015. "How has cash usage evolved in recent decades? What might drive demand in the future?," Bank of England Quarterly Bulletin, Bank of England, vol. 55(3), pages 216-227.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Janet Hua Jiang & Enchuan Shao, 2020. "The Cash Paradox," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 177-197, April.

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