The review into the Reserve Bank of Australia has just been published by Treasurer Jim Chalmers, and it’s a blockbuster.
The review has made 51 recommendations including:
taking away power over interest rates from the Reserve Bank board (which has traditionally been dominated by non-economists, usually corporate executives) and devolving it to a panel of experts
reducing the number of decision-making meetings from 11 to eight per year
boosting the transparency of its decision-making process and holding it more accountable for those decisions.
