The people in charge of printing banknotes have gone on strike because they do not get enough of them.

Staff at Note Printing Australia (NPA) - a wholly-owned subsidiary of the RBA - have stopped work to demand a 3.5 per cent pay rise.

It is the first time in 107 years that the printing of Australian banknotes has been interrupted by industrial action.

The RBA has offered the highest allowable rise under the current bargaining regime – 2 per cent.

“If it is so important to lift wages across the economy then here is a rolled-gold opportunity for the Reserve Bank to show some leadership,” said Tony Piccolo, regional secretary of print division at the Australian Manufacturing Workers' Union.

“Governor [Philip] Lowe needs to practice what he preaches.”

Reserve Bank Governor Philip Lowe recently called for workers to be more proactive in securing pay hikes.

Mr Piccolo said the union would strike until NPA management returned to the "bargaining table" next week.