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Rural Bank Building, Martin Place

1936 establishments in AustraliaArt Deco architecture in SydneyBank headquarters in AustraliaBuildings and structures demolished in 1983Demolished buildings and structures in Sydney
Former bank buildings in New South WalesFormer buildings and structures in SydneyMartin PlaceOffice buildings completed in 1936Office buildings in SydneyState Bank of New South Wales
SLNSW 35899 Rural Bank
SLNSW 35899 Rural Bank

The Rural Bank Building was a landmark bank and commercial building on a block bounded by Martin Place, Elizabeth Street, and Phillip Street in the central business district of Sydney, Australia. Completed in 1936 and designed in the Inter-war Art Deco style by the bank's chief architect, Frank William Turner, the building served as the Rural Bank's main headquarters until 1982. Despite its distinctive design receiving recognition for its heritage value as "one of the finest art deco buildings in Australia", including from the Australian Institute of Architects and through a listing on the Federal Register of the National Estate, the Rural Bank Building was controversially demolished in 1983 and replaced by the postmodern State Bank Centre development by Peddle Thorp & Walker, prompting greater community efforts to protect the heritage of Sydney.

Excerpt from the Wikipedia article Rural Bank Building, Martin Place (License: CC BY-SA 3.0, Authors, Images).

Rural Bank Building, Martin Place
Martin Place, Sydney Sydney

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Geographical coordinates (GPS)

Latitude Longitude
N -33.8674 ° E 151.211 °
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Martin Place 52
2000 Sydney, Sydney
New South Wales, Australia
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SLNSW 35899 Rural Bank
SLNSW 35899 Rural Bank
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Lindt Cafe siege
Lindt Cafe siege

The Lindt Cafe siege was a terrorist attack that occurred on 15–16 December 2014 when a lone gunman, Man Haron Monis, held hostage ten customers and eight employees of a Lindt chocolate café in the APA Building in Martin Place, Sydney, Australia. The Sydney siege led to a 16-hour standoff, after which a gunshot was heard from inside and police officers from the Tactical Operations Unit stormed the café. Hostage Tori Johnson was killed by Monis and hostage Katrina Dawson was killed by a police bullet ricochet in the subsequent raid. Monis was also killed. Three other hostages and a police officer were injured by police gunfire during the raid.Police have been criticised over their handling of the siege for not taking proactive action earlier, for the deaths of hostages at the end of the siege, and for the lack of negotiation during the siege. Hostage Marcia Mikhael called radio station 2GB during the siege and said, "They have not negotiated, they've done nothing. They have left us here to die."Early on, hostages were seen holding a Jihadist flag against the window of the café, featuring the shahādah creed. Initially, many media organisations mistook it for the flag used by the Islamic State (IS); Monis later demanded that an IS flag be brought to him. Monis also unsuccessfully demanded to speak to the Prime Minister of Australia, Tony Abbott, live on radio. Monis was described by Abbott as having indicated a "political motivation," but the eventual assessment was that the gunman was "a very unusual case—a rare mix of extremism, mental health problems and plain criminality."In the aftermath of the siege, Muslim groups issued a joint statement in which they condemned the incident, and memorial services were held in the city at the nearby St Mary's Cathedral and St James' Church. Condolence books were set up in other Lindt cafés and the community turned Martin Place into a "field of flowers." The Martin Place Lindt café was severely damaged during the police raid, closed afterwards, then renovated for reopening in March 2015.

Reserve Bank of Australia
Reserve Bank of Australia

The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.Both boards consist of members of both the bank, the Treasury, other Australian government agencies, and leaders of other institutions that are part of the economy. The structure of the Reserve Bank Board has remained consistent ever since 1951, with the exception of the change in the number of members of the board. The governor of the Reserve Bank of Australia is appointed by the Treasurer and chairs both the Payment Systems and Reserve Bank Boards and when there are disagreements between both boards, the governor resolves them.From the middle of the 19th century into the 1890s, the prospects for the forming of a national bank grew. In 1911, the Commonwealth Bank was established, but did not have the authority to print notes, which was a power that was still reserved to the Treasury. A movement toward reestablishing the gold standard occurred after World War I, with John Garvan leading various boards in contracting the money supply on the route to doing so, and the gold standard was instituted for both the British pound sterling and the Australian pound in 1925.During the Great Depression, the Australian pound became devalued, no longer worth the same as the pound sterling, and formally departed from the gold standard with the Commonwealth Bank Act of 1932. Legislation in 1945 led to regulation of private banks which Herbert Coombs was opposed to, and when he became governor in 1949, he gave them more overall control over their institutions. When the monetary authorities implemented the advice of Coombs to have a flexible interest rate, it allowed the bank to rely more on open market operations. In 1980 the issue of short-term government bonds – Treasury notes of 13 and 26 weeks duration – changed from a tap system, in which the price was set, to a tender system in which the volume of stock was set and the price determined by the market. Soon afterwards the tender system was extended to the issue of longer-term government bonds. The float of the Australian dollar happened in 1983, around the same period of time that the financial system in Australia was deregulated. Administration of the banks was transferred in 1998 from the bank to the Australian Prudential Regulation Authority and the Payments System Board was created, while the bank was given power within the board in the same year. The current governor of the Reserve Bank is Philip Lowe, who succeeded Glenn Stevens as governor on 18 September 2016.In May 2022, the bank increased the nation's interest rates for the first time in more than a decade. This move was designed to combat the inflation, right before the election that is heavily focused on increased costs of living.

Sydney
Sydney

Sydney ( (listen) SID-nee; Dharug: Gadi; Greater Sydney, Dharug: Eora) is the capital city of the state of New South Wales, and the most populous city in Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Port Jackson and extends about 70 km (43.5 mi) on its periphery towards the Blue Mountains to the west, Hawkesbury to the north, the Royal National Park to the south and Macarthur to the south-west. Sydney is made up of 658 suburbs, spread across 33 local government areas. Residents of the city are known as "Sydneysiders". As of June 2020, Sydney's estimated metropolitan population was 5,361,466, meaning the city is home to approximately 66% of the state's population. Nicknames of the city include the 'Emerald City' and the 'Harbour City'.Indigenous Australians have inhabited the Sydney area for at least 30,000 years, and thousands of Aboriginal engravings remain throughout the region. During his first Pacific voyage in 1770, Lieutenant James Cook and his crew became the first Europeans to chart the eastern coast of Australia, making landfall at Botany Bay. In 1788, the First Fleet of convicts, led by Arthur Phillip, founded Sydney as a British penal colony, the first European settlement in Australia. After World War II, it experienced mass migration and became one of the most multicultural cities in the world. Furthermore, 45.4% of the population reported having been born overseas, and the city has the fourth-largest foreign-born population of any city in the world after London and New York City.Despite being one of the most expensive cities in the world, Sydney frequently ranks in the top ten most liveable cities in the world. It is classified as an Alpha global city by the Globalization and World Cities Research Network, indicating its influence in the region and throughout the world. Ranked eleventh in the world for economic opportunity, Sydney has an advanced market economy with strengths in finance, manufacturing and tourism. Established in 1850, the University of Sydney was Australia's first university and is regarded as one of the world's leading universities.Sydney has hosted major international sporting events such as the 2000 Summer Olympics. The city is among the top fifteen most-visited cities in the world, with millions of tourists coming each year to see the city's landmarks. Boasting over 1,000,000 ha (2,500,000 acres) of nature reserves and parks, its notable natural features include Sydney Harbour and Royal National Park. Built attractions such as the Sydney Harbour Bridge and the World Heritage-listed Sydney Opera House are also well known to international visitors. The main passenger airport serving the metropolitan area is Kingsford Smith Airport, one of the world's oldest continually operating airports.