Australia’s Treasurer said he was close to announcing details of a wide-ranging review into the country’s central bank which would require legal changes for some steps, underlining the scope of the shake-up. | Reuters
Lowe’s future has been under a cloud since telling Australian borrowers late in 2021 that interest rates were unlikely to rise until 2024.
Lowe’s current seven-year term ends in September and there is speculation it will not be extended as it was with his two predecessors. This could include a separate specialist committee to advise on or even decide monetary policy and/or a change to how board members are chosen and pointed.
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