Australia's central bank will get a new specialist board to manage monetary policy that will be chaired by the governor but have independent expert members with more power over the setting of interest rates.
A review of the Reserve Bank of Australia released on Thursday also recommended the central bank have a dual mandate of price stability and full employment, while maintaining its flexible inflation target of 2-3%.
RBA Governor Philip Lowe welcomed the proposed changes and said the current board would now consider how to implement some of the proposals including the frequency of policy meetings.The review recommended the RBA's current single board be split into one for monetary policy and one for governance with an external chair that would oversee operations such as human resources, finance, risk management and technology.
External members would be appointed for a term of five years, with the possibility of reappointment for up to one year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Australia's central bank actively considered April rate hike before deciding on pauseThe decision not to hike was a close call, as a surprise surge in migration and pay rises for public workers added to the case for more action, minutes showed.
Baca lebih lajut »
RBA April Minutes: An ‘on balance’ pause; May live – ANZAnalysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on the Minutes of the Reserve Bank of Australia’s (RBA) April poli
Baca lebih lajut »
MIPTV: Belgian Real-Life Thrillers ‘The Crash,’ ‘1985’ Sell for Europe, AustraliaStudiocanal racked up international sales for a drama about a 1990s air disaster and a true-crime drama about Belgium’s most notorious unsolved crime spree.
Baca lebih lajut »
Cardano (ADA) Now Listed on Australia's Largest Crypto Exchange: DetailsCardano (ADA) arrives on Australia's top crypto exchange ADA CardanoADA CardanoCommunity ADA $ADA
Baca lebih lajut »
United plans to expand Australia, New Zealand flights 40% in bet on international travel reboundAirline executives have said international travel demand has been growing strongly.
Baca lebih lajut »
United Airlines expands service from LAX to AustraliaUnited Airlines announced more direct flights between LAX and destinations in Australia.
Baca lebih lajut »