Here are some news headlines on this topic from earlier:
- Proposed changes to RBA board fail
In addition to some details, quoted from Reuters news agency:
- The reforms, recommended by an independent review last year, included the creation of a separate governance board to complement the existing monetary policy board.
- The nine-member interest rate-setting committee will include six outsiders, and the opposition has said the ruling Labor Party could use them to include certain people friendly to the current government.
- Australian Treasurer Chalmers has also proposed amending a proposal to remove the government’s veto over the Reserve Bank of Australia’s interest rate decisions, a proposal opposed by the opposition and the Greens.
Reserve Bank of Australia Governor Bullock
This article was written by Eamonn Sheridan on www.forexlive.com.