The Australian Reserve Bank (RBA) has announced in a strategic statement that it will prioritize the development of a wholesale central bank digital currency (CBDC), while postponing plans for a retail CBDC.

Brad Jones, Assistant Governor of Financial System at the RBA, stated that a wholesale CBDC presents more significant potential benefits and faces fewer challenges compared to a retail CBDC. The Australian central bank and Treasury will also conduct some form of public engagement on a retail CBDC in 2025, and will conduct further research and experimentation in the coming years. The Australian central bank and Treasury will publish further documents in 2027 that will review the advantages and potential forms of a retail CBDC.