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RBA gives RBC Capital Markets private briefing, bars bank after leak

Mark Di Stefano and John Kehoe

Oct 1, 2024 – 5.00am

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The Reserve Bank of Australia has barred a global investment bank from confidential briefings with its top officials after one of its clients leaked details of an off-the-record lunch about the central bank’s interest rate decisions, the second time it has happened in a year.

RBA assistant governor Christopher Kent met with RBC Capital Markets economists and their trading clients in February shortly after the central bank decided to keep the cash rate steady at 4.35 per cent, according to people briefed about the incident who spoke on condition of anonymity.

Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent.

John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury.