How the RBA governor and board set and communicate interest rate decisions faces the biggest shake up since the bank gained independence in the early 1990s.
Breaking down the bank’s “hierarchical” structure and introducing more contestability and debate.
Dr Chalmers said he had discussed the review’s findings with Dr Lowe, who travelled to Washington with the treasurer for international economic meetings last week.“Before long I want to have a discussion with the opposition and ideally the crossbench about the contents of that report, as well.” Mr Taylor said the opposition was prepared to be bipartisan and not politicise the independent central bank, “as long as what is being proposed by Labor is sensible, will strengthen the bank and deal with the errors of the past”, Mr Taylor said on Monday.
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