A report calling for a major shake-up at the Reserve Bank of Australia will land on Treasurer Jim Chalmers' desk today, potentially prompting the first serious reform to the institution in decades. 9News
that there is unlikely to be any change to the bank's policy of fighting inflation with interest rate increases.Speaking onthis week, Chalmers avoided speculating on the future of rate hikes, but said it was "encouraging" to see inflation moderating."It is encouraging that inflation looks to have peaked at the end of last year and yesterday's numbers more or less confirm that," he said.
"That is an encouraging sign but it is a sign of the times as well that inflation with a six in front of it is seen as welcome news.A growing number of economistsCops blast 'vigilantes' after 'torture' home torchedWestpac Chief Economist Bill Evans said there would likely be a pause in rate hikes in April followed by a final increase in May.
"We now expect a pause in April to be followed by a final increase of 0.25 per cent at the May meeting," he said. Currently the cash rate target of 3.6 per cent is the highest since May 2012, after the RBA hiked interest rates for 10 consecutive meetings.Australia's top 10 richest people for 2023
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