This remains a very important function for us, despite banknotes being used less and less for payments. According to our latest survey of how Australians make their payments, cash now  3/4  BIS - Central bankers' speeches  accounts for just 13 per cent of all consumer payments. Fifteen years ago, that figure was nearly 70 per cent.
That is a big change and I expect that it will continue. Despite this, the stock of banknotes on issue has continued to grow over recent years. There is nearly $ on issue for every Australian, including 18 $ bills for every man, woman and child. I don't have my share and I don't know many people who do.