Headlines on this are here from earlier:
Adding a little more detail, this via Reuters reporting:
- The reforms, which were recommended by an independent review
last year, included setting up a separate governance board to
complement the current monetary policy board. - The nine-member rate-setting board would still have six
outside members, which the opposition said could be used by the
ruling Labor Party to include appointees friendly towards the
current government. - Australian Treasurer Chalmers also offered to amend a proposal to remove the
government’s veto power over the RBA’s rate decisions that was
opposed by the opposition and the Greens party.
Reserve Bank of Australia Governor Bullock
This article was written by Eamonn Sheridan at www.forexlive.com.