Australia Reserve Bank reform descends into farce

The Greens wanted interest rate cuts in exchange for their support for reform. (Image: Getty)

Tue, 24 Sep 2024

By James GlynnThe Australian Government’s push to reform the Reserve Bank of Australia’s (RBA) policy-setting board is likely dead in the water, and few will mourn its passing.Unfortunately for Treasurer Jim Chalmers, who championed plans to introduce a dual-board system at the RBA with one for interest rate setting, and the other for the day-to-day governance of the bank, it is all ending in farce.The far-left Green Party, which Chalmers needs to pass the necessary legislative change to “modernise” the board, has demand...

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