The Australian Treasury is preparing a review of the Reserve Bank of Australia (RBA), examining how the Bank’s first independent examination will proceed.
The RBA is the only major central bank in the developed world not to have undergone an external or independent review this century, with the last review taking place in the early 1980s before inflation targeting was introduced and the financial market was liberalised.
The review has bipartisan support from both Treasurer Josh Frydenberg and shadow treasurer Jim Chalmers.
