Government giving itself ‘free pass’ by handing RBA responsibility for employment

United States News News

Government giving itself ‘free pass’ by handing RBA responsibility for employment
United States Latest News,United States Headlines
  • 📰 SkyNewsAust
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 78%

Sky News host Cory Bernardi says the Albanese government is giving itself a “free pass” by handing responsibility for employment to the RBA.

“It’s unlikely that unemployment figures will fall much if at all from the current 3.5 per cent or so.

But if they rise, the blame will now be sheeted home to the Reserve Bank of Australia,” he said.“Of course, officially, this reform is all about modernising the RBA. It’s got nothing to do with having them act as a political shield for a struggling government.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SkyNewsAust /  🏆 7. in AU

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RBA review updates LIVE: RBA to retain inflation target in shake upRBA review updates LIVE: RBA to retain inflation target in shake upTreasurer Jim Chalmers to release RBA review; shadow treasurer Angus Taylor signals support for the creation of two central bank boards. Follow updates here.
Read more »

RBA’s shake-up gives it ‘more time’ to analyse decisions before rate risesRBA’s shake-up gives it ‘more time’ to analyse decisions before rate risesThe RBA’s recent change in its decision-making process gives it “more time” to analyse its decisions, says Sky News Business Reporter Ed Boyd. 'One thing that I really like is the fact that there will only be eight cash rate decisions a year, so going down from 11 to eight,' Mr Boyd said. 'That gives the RBA more time to analyse the decisions – analyse the impact that the cash rate is having on Australia’s economy. “Because you think back to this month, the RBA kept the cash rate on hold after raising it ten consecutive times and their reason for pausing was they wanted to see the impact that those rate rises were having on Australian consumer spending and the economy in general.”
Read more »

Full employment becoming an ‘equal goal’ of the RBA is ‘highly problematic’Full employment becoming an ‘equal goal’ of the RBA is ‘highly problematic’Full employment becoming the equal goal of the Reserve Bank, which was a recommendation in the review into the central bank, is “highly problematic and unnecessary”, according to Sky News host Sharri Markson. Ms Markson said it is one of the biggest and most controversial changes, and finance experts she has spoken to today say it could be very problematic. “The RBA has historically had just one objective – inflation – and it has one instrument to tackle this – interest rates,” she said. “If you have to bring down inflation and it's not in conflict with employment, then you wouldn’t need employment as an objective in the charter of the RBA, but if you have to bring down inflation and it is in conflict with the RBA's new goal of full employment, the prevailing wisdom is you could not let inflation run. “It has to be the top priority, not jobs, otherwise you'd end up with entrenched inflation and you'd need an even bigger stick to bring it down.”
Read more »

The biggest shake-up in a generation: RBA board to lose rate setting powersThe biggest shake-up in a generation: RBA board to lose rate setting powersThe review of the RBA calls for the governor to front a press conference after meetings to publicly explain why the bank has moved interest rates.
Read more »



Render Time: 2025-04-04 02:56:38