The Reserve Bank will get more experts for a separate board to set interest rates and will hold fewer board meetings with mandatory press conferences, as part of the first external review of the central bank and the operation of monetary policy in 40 years.
The review, announced by Treasurer Jim Chalmers last year, was established with the objective of identifying how to make it “the world’s best and most effective central bank into the future”.
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Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
