Central Banks
RBA Review Recommends Splitting Board, Affirms Inflation Target
- Treasurer Jim Chalmers to release central bank review Thursday
- Chalmers to announce appointment of two new RBA board members
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Australia will release the findings of an independent review of its central bank on Thursday with the report recommending the creation of two separate boards — one for monetary policy and the other for governance.
Treasurer Jim Chalmers is expected to announce in-principle agreement with all 51 recommendations, some of which will require changes to the Reserve Bank of Australia’s operating law. Titled “An RBA Fit for the Future,” the review supports the existing inflation-targeting regime.