RBA's McKibbin barred from providing advice

The Governor of the Reserve Bank of Australia, Ian Macfarlane, blocked board member Warwick McKibbin from advising a residential home equity fund, the Sydney Morning Herald reported this week.

Professor McKibbin had intended to provide advice to Rismark, an "equity finance" company, for one hour per week, the report said.

His backdown last week narrowly saved the Treasurer, Peter Costello, from having to adjudicate a stand-off in the nation's most important board room, the report said.

The

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