RBA Governor Philip Lowe says he is looking forward to the Albanese government's wide-ranging review into the central bank’s objectives and monetary policy, culture and operations.
Mr Chalmers announced the first wide-ranging review into the RBA since 1981 with a focus on the bank’s objectives and monetary policy, culture and operations.
Reserve Bank of Australia Governor Philip Lowe said he is looking forward to the government's review into the central bank. Picture: Getty Images “It is an opportunity to take stock of our monetary policy arrangements and make sure that they are fit for purpose for the challenges ahead.Along with welcoming the review, the RBA Governor dismissed suggestions the government's wide-ranging nature was a criticism of the bank’s operations.
The review’s focus on monetary policy will discuss the RBA’s focus on getting the inflation rate to between two to three per cent which has been targeted as an ideal range and is well below the current rate of 5.1 per cent.
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