#CashLimit #AusPOL #$10,000
The Australian government is proposing to limit cash transaction to $10,000 or less to reduce the black market. Let’s look at an overview of their proposal an then the potential implications with regards to negative interest rates and recent IMF research.
References
Currency (Restrictions on the Use of Cash) Bill 2019
https://www.treasury.gov.au/consultation/c2019-t395788
SIT Black Money Report: Here are other countries with cash transaction limits
https://www.zeebiz.com/india/news-sit-black-money-report-here-are-other-countries-with-cash-transaction-limits-3856
Cashing In: How to Make Negative Interest Rates Work
https://blogs.imf.org/2019/02/05/cashing-in-how-to-make-negative-interest-rates-work/