RBA and government set out rules of engagement

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The Reserve Bank of Australia (RBA) and the Australian government have renewed their vows to each other following the recent federal elections in the country, which saw the Liberal party take power after six years of Labour government.

The latest Statement on the Conduct of Monetary Policy, issued yesterday, repeats the government's commitment to "respect the Reserve Bank's independence", though adds that given the responsibility the government has "for economic policy as a whole", it "reserves

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