Every now and then, the Reserve Bank of Australia locks up a group of financial journalists and the ABC's Michael Janda is often one of them. He explains why this is good for reporters, and for you.
abc.net.au/news/inside-the-reserve-bank-media-lockups/102212536In an era where many people struggle to put down their phone for 90 seconds, imagine handing it over for 90 minutes.
So, how does this arcane institution work? What is it like inside the lock-up? Does it really help everyone understand what exactly the RBA is up to, and why?Before you can enter a Reserve Bank lock-up you need to sign a form, akin to the Official Secrets Act, which threatens exclusion from future lock-ups — and potentially far worse — if you were to release any information from embargoed reports before the allotted time.
During a period of global banking turmoil and intense interest rate pressure on Australian mortgage borrowers, there's a huge amount of interest in what the central bank thinks. The phones sit in a box that is whisked out of the room, to be returned just before the lock-up ends. RBA assistant governor Brad Jones delivered a background briefing before we had a chance to read any of the report.
Journalists hard at work while RBA assistant governor Brad Jones delivers a background briefing at the April 2023 Financial Stability Review lock-up.The RBA has cycled through biscuits, from plain Family Assorted through Assorted Creams, choccie biscuits, and now back to cheaper fare. In the hey-day of lock-ups, pre-pandemic, Tim Tams and Mint Slice were on offer, but the choccy biscuits are now out of favour, with "near-expiry" specials from Harris Farm taking their place.The alternative to a lock-up or embargo would be a mad scramble to skim RBA documents and speeches the moment they were published, with each outlet trying to get a story up as quickly as possible.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to transform dead spaces in your home – from unused fireplaces to that bit under the stairsIn every home there’s an area that isn’t pulling its weight. Experts offers ways to make the most of every inch
Read more »
All bets aren’t off when it comes to football and its obsession with gambling | Barney RonayFootball has led the charge on the total intrusion of gambling into every aspect of our daily cultural lives
Read more »
Check your phone now: Major Aussie bank targeted in new high-tech fraudA sophisticated scam using new technology to con Australians out of millions of dollars is now targeting some ING bank customers. 7NEWS
Read more »
Sudanese paramilitary group claims control of Presidential Palace as fighting flares in KhartoumSudanese paramilitary group the Rapid Support Forces say they&x27;ve taken control of the Presidential Palace, as tensions between the force and the army erupted into violence in Sudan&x27;s capital Khartoum.
Read more »