Reserve Bank of Australia reports loss of $37bn and plans to cut dividends to Treasury

Central bank in negative equity after 2021-22 loss, a review of its pandemic bond-buying program has found

• Get our free news app, morning email briefing or daily news podcast

The Reserve Bank's role in shoring up Australia's economy during the Covid pandemic has seen it post an accounting loss for the 2021-22 year of almost $37bn, leaving it with negative equity, the bank's deputy governor, Michele Bullock, has revealed.

At a speech in Sydney on Wednesday, Bullock said accounting methods used by the central bank had to adjust for the reduced value of billions of dollars of government debt the RBA had bought to support economic activity during the lockdowns.

Sign up to receive an email with the top stories from Guardian Australia every morning