Podcasts Government Grattan Institute Why the Reserve Bank of Australia should be reviewed

Why the Reserve Bank of Australia should be reviewed

Published: Sept. 20, 2021, 2:13 a.m.

Most Australians wouldn\u2019t have given too much thought to the Reserve Bank of Australia. \n\nApart from when it changes official interest rates following its monthly meetings, the role and importance of the RBA, and its governor Phil Lowe, is little understood or even acknowledged. \n\nBut the Reserve Bank is now facing rare criticisms by leading economists for not having met its core targets for nearly a decade. \n\nAnd this week, international think tank the OECD has called for a review of the RBA. A call since endorsed by Treasurer Josh Frydenberg, who said he\u2019d consider a review after the next election. \n\nAnd with the Federal ALP previously calling for an independent review of the Reserve Bank in April, it\u2019s increasingly likely the RBA will next year face its first independent review in 40 years.\n\nWatch Brendan Coates, Economic Policy Program Director, discuss the role of the RBA and whether it should be reviewed with Kat Clay, Head of Digital Communication. \n\nFor more information, visit: https://grattan.edu.au/