Major reforms to the Reserve Bank have been delayed until at least the end of March 2024, after what Treasurer Jim Chalmers has described as a “disappointing and surprising” move by the Coalition. The Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023 was introduced last month as part of anContinue Reading
Treasurer Jim Chalmers has warned the government will have to cut back on some infrastructure projects to help trim inflation. Economists from the International Monetary Fund (IMF) urged the federal government to scale back on its record $30bn a year of public infrastructure spending, warning the economy was running farContinue Reading
The Reserve Bank board that sets interest rates is set for the biggest shake up in decades after a string of forecast bungles. The Treasurer, Jim Chalmers will release the findings of a major review today that is expected to result in the removal of the power of the RBAContinue Reading
The Reserve Bank is set to be split into two boards, with one solely focused on interest rates, in a major shake-up idea expected to be adopted by the government. On Thursday Treasurer Jim Chalmers will release the RBA review report – “An RBA fit for the future” – andContinue Reading
Since the RBA first began raising interest rates in May last year, it has come under a great deal of criticism for raising rates much earlier than its previous commentary had suggested. The broader narrative was that it was highly unlikely that the RBA would raise interest rates before 2024.Continue Reading