Australian parliament passes bill to reform RBA
Bank’s board to be split into two groups covering monetary policy and governance
Australia’s upper house of parliament yesterday (November 28) passed legislation that will allow long-delayed reforms to the central bank to go ahead.
The reforms, based on the findings of an independent review published in April 2023, will include separating the board of the Reserve Bank of Australia (RBA) into two groups: one with responsibility for monetary policy and the other with responsibility for governance.
The bill, tabled by the Labor government, had been opposed by the main opposition
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