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AAP
AAP
Politics
Poppy Johnston

Door opens for long-delayed Reserve Bank reforms

The government has ceded ground to the opposition to secure its support for Reserve Bank reforms. (Flavio Brancaleone/AAP PHOTOS)

Emergency powers to override interest rate decisions look set to stay with the treasurer as Labor cedes ground to get its central bank reforms over the line.

Recommendations from a review of the Reserve Bank of Australia in 2023 included ditching the veto on rates, a mechanism that has never been used, but a lack of coalition and Greens support left the changes in limbo.

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