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Australia Plots Biggest Shake-Up of Central Bank in Decades
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SYDNEY—Australia said it would make broad changes to how its central bank operates, in a move that will weaken the governor’s influence over key decisions including interest rates.
The biggest change will see the Reserve Bank of Australia adopt a monetary policy committee structure that has parallels to the setup of the Bank of Canada and the Bank of England. Australian Treasurer Jim Chalmers said RBA policymakers would now gather to set interest rates eight times a year, compared with the current 11 meetings.
Read more on wsj.comAbout this in other media
Central banks raising interest rates makes it harder to fight the climate crisis theguardian.com /11 months ago
Argentina's central bank halts cryptocurrencies from payment apps cointelegraph.com /11 months ago
European Central Bank Slows Pace of Rate Increases wsj.com /11 months ago
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