Banknote demand rising as more hoard cash

Cash is increasingly being kept for "precautionary or store-of-wealth purposes", the RBA says. (Dan Peled/AAP PHOTOS) (AAP)

Demand for banknotes is rising as more Australians keep cash on hand for "precautionary" reasons rather than in the bank.

This is one of the key trends identified by the Reserve Bank of Australia in its 2021/22 annual report published late last week.