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This has all the hallmarks of everything that is wrong with the cowards of Canberra:
The Reserve Bank is facing its biggest shake-up since the early 1990s, with the institution’s first review in four decades poised to recommend changes to the way it operates and communicates with the public.
Interest rates set by a committee of economic specialists rather than the current board, fewer meetings to discuss rate settings and regular press conferences by the bank governor to explain monetary policy settings are all expected to be canvassed in the final report from an independent panel of experts that have spent the past six months reviewing the RBA.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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