Jim Chalmers speaks to media: watch live; Victorian Premier to face increased pressure to respond to allegations of branch stacking; follow updates live.
Treasurer Jim Chalmers says while the RBA has been a “crucial institution” and served Australia well for more than six decades, it is facing a “really complex and changing economic environment”.
Canadian central banker, Carolyn Wilkins, Australian National University economics professor Renee Fry-McKibbin and former senior Treasury official, Gordon de Brouwer, will jointly conduct the first independent review of the bank since its arrangements were instituted in the early 1990s. “It’s been a really long time since there’s been a broad-ranging review of the bank - certainly not since the current regime was set up in the 1990s.”
“It depends how marginal you are in your home loan; it depends on your wages ... and other financial circumstances,” the treasurer said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA board member reappointed before shake upThe move gives Treasurer Jim Chalmers the opportunity for a broader shake up of the bank’s leadership following the independent review’s findings in March next year.
Read more »
RBA culture, board and inflation target to be review focusTreasurer Jim Chalmers will on Wednesday announce the terms of reference for the RBA review, with the board, the inflation target and its performance all in the spotlight. auspol
Read more »
RBA says households can handle interest rate rises, but experts warn mortgage repayments will surgeAs the Reserve Bank prepares to keep lifting interest rates and says households can cope with rising repayments, analysts warn both it and mortgage borrowers could be in for a rude shock.
Read more »
Cashed up and employed: RBA says households can withstand higher ratesReserve Bank deputy governor Michele Bullock says households enjoying a strong jobs market can use COVID-era savings to manage a lift in interest rates.
Read more »
Cashed up and employed: RBA says households can withstand higher ratesThe Reserve Bank believes highly indebted households will withstand a substantial increase in interest rates. The biggest risk to home buyers, it says, would be a sharp lift in the unemployment rate. | swrighteconomy rachelclun
Read more »
Recent home buyers most vulnerable to rate rises: RBAMichele Bullock says Australians are well-placed to manage rising interest rates, but warned cost of living and falling real wages posed a risk to households carrying a lot of debt.
Read more »