The three reviewers are due to hand their report by this Friday to Treasurer Jim Chalmers.
overseeing operational matters such as the bank’s internal finance, risk management, technology and human resource functions.The other option, which could be easier to secure bipartisan support for and not require major legislation, is a more formal selection process of members to the existing RBA board to ensure it has the best mix of skills across economics, financial markets and labour markets.
Currently, seven of the nine RBA board members – outside of the governor and deputy governor – have little involvement in the bank’s budget, projects, risk management and technology systems. At The Australian Financial Review Business Summit this month, Dr Lowe acknowledged that the bank could improve its communication and said he looked forward to recommendations on this issue.A “skills matrix” for the RBA board could be adopted to help fill expertise “gaps”, such as labour markets, supply chains and financial markets, Ms Wilkins said in November.
Moreover, a legislative change to the Reserve Bank Act would also be required, which would be a “really high bar” to pass, Ms Wilkins said.
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.
Angus Taylor defends Peter Dutton's absence on NSW election campaign trail as former PM Scott Morrison makes surprise appearanceAngus Taylor defended Peter Dutton's absence on the New South Wales election campaign trail as one former Liberal prime minister makes a surprise appearance.
Read more »
Perrottet’s loss damning for the Liberal Party and DuttonOPINION: A small-government ex-treasurer who had spent years fighting public service pay rises, the premier failed to produce a persuasive inflation strategy.
Read more »
‘Hang out and be a dad’: Lib leadership in doubt as Matt Kean says noThe Liberal leadership is wide open after NSW’s former treasurer Matt Kean ruled out running, while speculation is rising about defeat Premier’s Dom Perrottet’s future.
Read more »
‘Turbulent evening’: European bank shares fall by 3.8 per centCommSec’s Ryan Felsman says European bank shares fell by 3.8 per cent on Friday. “A flat start to trade as expected on Monday in Australia with SPI Futures pointing down by just three points, but that really masks a turbulent evening on Friday in Europe,” he told Sky News Australia. “We did see European bank shares fall by 3.8 per cent, and we saw that reflected in the broader European indexes, down by 1.3 per cent.” Presented by CommSec.
Read more »
Child with measles visited South Australian hospital while contagiousThere are fears of a measles outbreak in South Australia after a three-year-old boy was diagnosed with the contagious disease on Friday. 9News
Read more »