The decision by the RBA to part ways with John Simon comes after the RBA review identified significant shortcomings in the organisation’s research culture.
Already a subscriber?The Reserve Bank of Australia will part ways with its top economic researcher as governor Michele Bullock forges ahead with efforts to modernise the central bank after a sweeping independent review.understands the RBA has not renewed John Simon’s contract to run the central bank’s economic research department when it expires in August. Dr Simon has led the research department since 2014.
The RBA’s senior leaders were sometimes dismissive of economic research, while at other times research was commissioned to “rationalise and defend decisions rather than to inform them”, according to the review. The review recommended the soon-to-be-created monetary policy board oversee the central bank’s research strategy to ensure the agenda was policy relevant and took in external views from universities and think tanks.
Malcolm Turnbull’s former private secretary, Sally Cray, was appointed to the newly created chief communications officer role in November, after the RBA review found the central bank’s approach to communicating with the media and the public was not up to scratch.
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