If RBA board reforms fail, it won’t be a great loss

Australia's Reserve Bank has done an exemplary job. (Image: RBA)

Wed, 11 Sep 2024

By James GlynnGovernment plans to reform the Reserve Bank of Australia (RBA) by introducing a dual-board system – one for setting interest rates and the other for day-to-day governance – have stalled and are in danger of being tossed out entirely.That is probably a good thing.The proposed changes require approval by Parliament, and after months of effort by Treasurer Jim Chalmers to get the numbers needed for the legislation to pass into law, the opposition Liberal-National Party coalition has said it won’t support the reform,...

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