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RBA governor Philip Lowe was "relatively relaxed". Not so for the folks at Note Printing Australia, who were "mortified" according to an email from deputy head of the RBA note issue department James Holloway on December 21 last year.He later said the printers, owned by RBA, "were devastated and had really been beating themselves up about it"."I said the fact they took such pride in the product was really the main thing, and reiterated the point about it being a relatively minor problem in the scheme of things," Mr Holloway said.RBA manager Luke Porter had also been managing broken spirits, comforting someone who was "in a bad way"."I told [redacted] the Bank is OK and don't stress too much – no one died. [Note Printing Australia] having a bit of a panic," Mr Porter said in the email.[...]Indeed, the RBA had provided the correct spelling to Note Printing Australia on December 21, 2016.By January 12, 2017, however, the typo had been accidentally added when Cowan's quote was "manually retyped" into the graphics software."The graphical software package used by [Note Printing Australia] has no copy-paste mechanism and no spelling or grammar check. [] The text was manually typed in and misspelt at this point," according to a report into the error from the printing agency, dated January 11 this year.
It wasn't until May this year that the error was made public by a caller to a breakfast radio program.