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RBA to be scrutinised in first review for decades

Treasurer Jim Chalmers has announced that the RBA will be subjected to a wide-ranging review looking into its core operations and culture, the first such independent review since 1981.

Collage illustration of text reading Reserve Bank, a cityscape and pattern of hundred dollar notes
Treasurer Jim Chalmers: “I’m not aware yet of a better, more appropriate regime for Australia but that’s the whole point of the review."

The last time the Reserve Bank of Australia (RBA) was subjected to an independent government review was in 1981, when Malcom Fraser was prime minister.

But Treasurer Jim Chalmers on Wednesday (20 July) announced that the RBA would be subjected to a wide‑ranging review that will look into its core operations and culture.

Among the areas under scrutiny will be the RBA’s objectives, mandate, the interaction between monetary, fiscal and macropruden…