The Review into the Reserve Bank has been handed down at the last minute and recommends sweeping changes to how interest rates are set in Australia.
Treasurer Jim Chalmers says the Government broadly accepts the 51 recommendations
from the report, including creating a separate specialist board to consider interest rates.
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.
Why the Reserve Bank could still hike interest rates after the April pauseThe Reserve Bank of Australia board landed on an interest rate pause when it met a fortnight ago. But there could be another increase on the horizon.
Read more »
Changes to RBA may affect ‘public debate’ around setting of interest ratesSky News Business Editor Ross Greenwood says planned changes to the Reserve Bank may fix the culture and change “public debate” regarding the setting of interest rates. The Reserve Bank board will be split in two as part of a significant shake-up in the way interest rates are set in Australia. “In many ways, the Reserve Bank over a long period of time has been something of a closed shop, almost beyond, if you like, criticism,' Mr Greenwood said.
Read more »
Reserve Bank Board to lose interest rate control in sweeping Australian policy reformThe Reserve Bank Board will lose its power to set interest rates under a huge shake-up to Australia's economic policy. Interest rate decisions are expected to be handed down to a second board of experts to minimise ongoing policy mistakes. It is expected to announce the government has given in-principle support to all of the 51 recommended changes from the Reserve Bank's review.
Read more »
The biggest shake-up in a generation: RBA board to lose rate setting powersThe Reserve Bank board will be stripped of its power to set interest rates and replaced by a board of monetary policy experts under the biggest shake-up to Australia’s economic policy settings in a generation.
Read more »
RBA decision-making shake-up looms after review calls for an overhaulThe Reserve Bank is set for its biggest overhaul in decades, with a review into the central bank finding it needs major changes to ensure it is 'fit for the future'.
Read more »
‘Very open to it’: Liberals give early support to Labor’s RBA overhaulThe Coalition is set to back in the government’s major reboot of the RBA, but the Greens have slammed the proposals as a “major party stitch up” to outsource inflation to Australia’s central bank.
Read more »