Headlines on this are here from earlier:
Adding a little more detail, this via Reuters reporting:
- The reforms, which were recommended by an independent review last year, included setting up a separate governance board to complement the current monetary policy board.
- The nine-member rate-setting board would still have six outside members, which the opposition said could be used by the ruling Labor Party to include appointees friendly towards the current government.
- Australian Treasurer Chalmers also offered to amend a proposal to remove the government's veto power over the RBA's rate decisions that was opposed by the opposition and the Greens party.
Reserve Bank of Australia Governor Bullock
