RBA reforms in limbo amid opposition
Opposition says it will not support government proposals
The Australian government’s planned reforms of the Reserve Bank of Australia (RBA) hang in the balance after the opposition said yesterday (September 10) that it would not back the changes.
Jim Chalmers, the treasurer (chief finance minister) from the ruling Labor party, has been pushing for a bill to overhaul the bank’s governance structure based on recommendations by a government-appointed review panel last year.
One of the most contentious changes would involve replacing the RBA’s existing
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