Reserve Bank governor Michele Bullock has admitted to lacking confidence in challenging senior staff earlier in her career, as she vows to empower junior ranks and address criticisms of groupthink.
Reserve Bank governor Michele Bullock has acknowledged she at times lacked the confidence to challenge senior staff earlier in her career, as she pledged to empower the central bank’s junior ranks and address criticisms of groupthink. The aim of a sweeping independent review into the RBA was to improve the quality of monetary policy debate and decision-making by establishing separate boards for interest rate setting and governance from July 2024.
Michele Bullock has admitted she at times lacked the confidence to challenge senior staff earlier in her career, as she pledges to empower the RBA’s junior ranks because of a culture that concentrated decision-making in a handful of senior leaders and a failure to be more open to external views. While noting extensive efforts had been made to foster a culture of debate, the reviewers said staff surveys showed that RBA employees perceived there was an incentive to express views that aligned with their managers and senior leaders
Reserve Bank Governor Michele Bullock Confidence Challenge Senior Staff Career Empower Junior Ranks Groupthink Independent Review Monetary Policy Decision-Making Interest Rate Governance Culture Open Views Debate Surveys Incentive
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