Sweeping changes to Reserve Bank of Australia give equal weighting to employment and inflation, and mandate greater transparency
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Achieving full employment will get equal weighting with fighting inflation for a new specialised monetary policy board set up within the Reserve Bank, according to wide-ranging changes recommended by the first major RBA review in four decades.
The review’s report, released on Thursday, details 51 recommendations proposed by a three-person panel. The treasurer, Jim Chalmers, said the Albanese government “agrees in-principle” with all of them, and will now press on to implement them by July 2024.
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Continue reading…Sweeping changes to Reserve Bank of Australia give equal weighting to employment and inflation, and mandate greater transparencyFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastAchieving full employment will get equal weighting with fighting inflation for a new specialised monetary policy board set up within the Reserve Bank, according to wide-ranging changes recommended by the first major RBA review in four decades.The review’s report, released on Thursday, details 51 recommendations proposed by a three-person panel. The treasurer, Jim Chalmers, said the Albanese government “agrees in-principle” with all of them, and will now press on to implement them by July 2024.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…