It’s ironic that one of Treasurer Jim Chalmers’ best ideas is to lift the standing of the Reserve Bank of Australia by creating a separate interest rate setting board that will strengthen its credibility and independence.
The change, which requires bipartisan support, reflects the structure of some of the world’s other top central banks and will help modernise the institution under governor Michele Bullock.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
