RBA Reform Talks Live With ‘Very Limited’ Issues Left to Resolve

Australia’s government and opposition are in talks to try to break a deadlock over legislation that would split the Reserve Bank’s board into two new bodies, even as tensions persist over the composition of a monetary policy committee.

The new two board structure was originally intended to be in place by mid-2024, but seemingly intractable differences between the two sides of politics delayed passage of the bills. Indeed, the legislative part of the reforms that were recommended by a central bank review last year seemed all-but dead.