Australian government to review RBA mandate and governance

RBA
Rachael King

Australian treasurer Jim Chalmers announced today (July 20) he will launch a “broad-based” review of the Australian central bank’s inflation targeting arrangements, mandates, performance and governance.

This will be the first major review of the Reserve Bank of Australia since the 1990s. It follows criticism of the central bank’s handling of rising inflation, and acknowledgements by the RBA itself that some decisions had gone awry.

The Reserve Bank is a crucial economic institution that has

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