The RBA review’s 51 recommendations are about “bolstering” its independence and performance, says Treasurer Jim Chalmers.
“Well the governor of the Reserve Bank has a difficult job to do and the Treasurer of Australia has a difficult job to do,” he said at a press conference on Thursday.
“He does his job independently of me and this report that we’re releasing today and the recommendations in the report are about bolstering the independence of the Reserve Bank not undermining that independence. “Now it’s no secret that Governor Lowe had a difficult job to do and the Reserve Bank Board has had to make a series of difficult decisions.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH LIVE: Jim Chalmers reveals landmark RBA overhaulTreasurer Jim Chalmers is unveiling the biggest overhaul of the Reserve Bank in a generation after a landmark review pushed for the RBA board to be stripped of key powers. Watch live on Sky News Australia from 11am AEST.
Read more »
RBA review updates LIVE: RBA to retain inflation target in shake upTreasurer Jim Chalmers to release RBA review; shadow treasurer Angus Taylor signals support for the creation of two central bank boards. Follow updates here.
Read more »
RBA to get second board in governance shake-upJim Chalmers will impose a sweeping overhaul of the Reserve Bank including creating two RBA boards – one that sets interest rates and one overseeing governance.
Read more »
Chalmers says ‘no’ to $34b for welfare, aged care’s $5b blowoutThe government has hosed down demands for big new spending in welfare as it revealed the aged care budget was on track to blow out by nearly $5 billion this year alone.
Read more »
‘Lucky Chalmers’: Higher than expected commodity prices show improved budget bottom lineSky News Political Editor Andrew Clennell says the last few budgets have contained much lower commodity price forecasts than what have actually ended up occurring, meaning each year the “budget bottom line has improved”. “These are the prices that were assumed again last October – US$55 a tonne for iron ore when the spot price at budget time was $91,” Mr Clennell said. “Economist Chris Richardson has told me that annually the benefit to the budget of a $10 change in the iron ore price will be $3 billion a year. “With some of the commodity prices we are going to see in this budget and the sorts of revisions up we have seen in the size of the economy in October and we’re about to see, are we going to start calling the Treasurer 'Lucky Chalmers'.”
Read more »