RBA to undergo biggest shake-up in decades
More than 50 recommendations stemming from a major review into the RBA will transform the central bank, including the establishment of separate boards to set interest rates and oversee governance.
The comprehensive review of the RBA comes after it has endured a challenging year. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) is to undergo its most significant restructure in decades, with the existing board structure no longer in charge of setting interest rates.
In the biggest overhaul to the central bank since the 1993 introduction of an inflation target
and assigning it formal independence from government influence, the existing board will be divided into two.The split will see special panel appointed to determine interest rat…
