‘Greens are out of control’: RBA reform dead as Labor rejects demands
Treasurer Jim Chalmers’ plan to create a specialist monetary policy board at the Reserve Bank is effectively dead after the government ruled out working with the Greens, who demanded an interest rate cut in exchange for their support.
The decision means the RBA’s six current external board members will continue to set interest rates, despite an independent review last year finding the group collectively lacked the expertise to effectively do so.
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