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Reserve Bank slashes dividend, announces accounting loss in annual report

The Federal Government will be paid a substantially lower dividend from the Reserve Bank due to the value of its foreign assets being hurt by the resurgent Australian dollar over the past year.

Reserve Bank slashes dividend, announces accounting loss in annual report
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In its annual report released this afternoon, the RBA said it would send a lighter $1.28 billion to Treasury in 2016/17 compared to $3.22 billion in the previous year.

Read the full article on ABC Online.

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