Before they do so, they should think about the following two facts:  2  BIS Review 60/2004  •  The reserve requirement we impose, which is currently 7.5% and will rise to 10% from 1 December, is much lower than in neighboring countries. I understand that the ratio is 19% in Croatia and 22% in Serbia for example.
The $ note withdrawal exercise is expected to take up to three months so we should see the first new $ notes in circulation in April. Economic update Ladies and gentlemen, the Reserve Bank remains bullish on our economic prospects and supports the notion underpinning the 2013 National Budget that the fundamentals are being laid and the best is yet to come.