Australians may not be reaching for cash to make their daily purchases but a fresh report has identified the surprising way households are collecting their loose change. Analysis released in the Reserve Bank of Australia’s January bulletin found the “falling transaction use” of bank notes” despite “strong banknote demand” suggested the act of hoarding cash was increasing. The report, authored by Patrick Elkington and Rochelle Guttmann, said this might be done for “store of wealth or precautionary savings purposes”, with $56bn to $81bn worth of bank notes hoarded in June 2023. This accounts for about 55 to 80 per cent ... (full story)