Interest Rates Hold Steady
The RBA cited lowering unemployment and subdued inflation pressures as key factors.
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Once again, the Reserve Bank of Australia (RBA) has maintained the current policy settings, leaving interest rates on hold for another month, aligning with plans to leave rates unchanged for the foreseeable future.
Dr Philip Lowe in his statement on the RBA’s decision has cited the global economy’s continued recovery from the pandemic and stronger than expected economic results locally– which are predicted to continue – particularly with unemployment falling to 5.6% in March as justification for the decision.
The RBA expects the unemployment rate to be at 5% by the end of 2021, and around 4.5% by the end of 2022.
On housing prices, and the recent boomtime results, Dr Lowe said, “Housing markets have strengthened further, with prices rising in all major markets. Housing credit growth has picked up, with strong demand from owner-occupiers, especially first-home buyers.”
Yet despite positivity surrounding the market’s recovery, Dr Lowe followed with a warning, stating, “Given the environment of rising housing prices and low-interest rates, the Bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.”
The board also reiterated its commitment to “maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target,” Dr Lowe said.
A rare slice of Sydney history, Coolabah blends Victorian grandeur with modern luxury in the heart of Greenwich; once home to Lane Cove’s first Lord Mayor and now listed with a $6.5m guide.
Bhutan is pioneering a new frontier in travel by allowing tourists to pay for flights, visas, hotels and even fruit stalls using cryptocurrency via Binance Pay.
Bhutan is pioneering a new frontier in travel by allowing tourists to pay for flights, visas, hotels and even fruit stalls using cryptocurrency via Binance Pay.
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Bhutan has become the first country in the world to implement a national-level cryptocurrency payment system for tourism, marking a major milestone in digital innovation and travel.
Launched in partnership with Binance Pay and Bhutan’s fully digital DK Bank, the system enables travellers with Binance accounts to enjoy a seamless, end-to-end crypto-powered journey. More than 100 local merchants, from hotels and tour operators to small roadside vendors in remote villages, are already live on the system.
“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, Director of the Department of Tourism, Bhutan.
“It enables a seamless experience for travellers and empowers even small vendors in remote villages to participate in the tourism economy.”
Using supported cryptocurrencies, tourists can now pay for nearly every part of their trip, including airline tickets, visas, the Sustainable Development Fee (SDF), hotel stays, monument entry fees, local guides, and shopping, all through secure static and dynamic QR code payments.
Binance CEO Richard Teng praised the move, saying: “We are excited to partner with Bhutan as we are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies. This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”
Known as the “Kingdom of Happiness,” Bhutan has long prioritised Gross National Happiness over GDP, with a strong focus on sustainability, cultural preservation, and societal well-being. The new system aligns with these values by reducing payment friction and bringing financial inclusion to local communities.
Among the key features of the system:
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Seamless Experience: Tourists can pay with crypto for all travel-related expenses.
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Inclusive Reach: Small vendors, even in remote areas, can accept QR code payments.
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Lower Fees: Transactions cost significantly less than traditional payment methods.
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Comprehensive Support: More than 100 cryptocurrencies supported, including BNB, BTC, and USDC.
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Secure and Instant: Real-time confirmations, 2FA, and encrypted transactions via the Binance app.
Behind the local settlement mechanism is DK Bank, Bhutan’s first fully digital bank. Licensed by the Royal Monetary Authority of Bhutan, it aims to deliver accessible financial services to all, including marginalised and unbanked communities.
The launch is being hailed as a bold step forward in integrating digital finance with global tourism — one that could set the benchmark for other nations looking to modernise the travel experience while empowering their local economies.
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