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The Reserve Bank of Australia came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank to it. The Bank has the responsibility of providing services to the Government of Australia, which the profits of the Bank are transferred back to, in addition to also providing services to other central banks and official institutions.
Governor: Philip Lowe
Current Voting Members: Philip Lowe, Guy Debelle, Mark Barnaba AM, Wendy Craik AM, John Fraser, Ian Harper, Allan Moss AO, Carol Schwartz AM, Catherine Tanna