If the RBA were a company, the governor would be out of a job

The RBA directors can’t sack the governor – they can only whinge and grizzle, writes Alan Kohler.

The Treasurer should take one further step in his response to the RBA review, even though this step is not in the recommendations –  let the board appoint the governor.

And if he can’t come at that, which would be understandable – even though he’s going to make the RBA completely independent for the first time – then have the new Monetary Policy Board, not Treasury, draw up the short list of candidates and give them the power to sack the governor, or at least recommend his or her sacking.