Australia's Labor government and opposition coalition dispute the composition of the Reserve Bank's new monetary policy committee, potentially hindering central bank reform.
Australia's Labor government and opposition coalition are at odds over the composition of the Reserve Bank's new monetary policy committee, which could hinder legislation needed to support changes to the central bank. Treasurer Jim Chalmers seeks continuity, with current six independent directors joining the committee or a new governance board, while the opposition coalition insists the existing board transitions to the new committee. If no consensus emerges, Chalmers' overhaul of the central bank remains incomplete.
March 11, 2024
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