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The Latest Breaking News from RBA

The criticisms behind the Reserve Bank review's recommendations for a new board, updated mandate

The Reserve Bank review wants to remove economic prosperity as an objective of monetary policy, with some economists arguing house prices and household debt are outside its domain.

ABC News

Inflation data to set the scene for next cash rate call

There will be a lot riding on the quarterly inflation figures as the Reserve Bank board tries to determine if it's done enough to rein in rising prices.

AAP

Michael Pascoe: The fallacy at the heart of the Reserve Bank of Australia review

Instead of tackling the fallacy and lie, the review came up with this: 'There should be increased joint work between Treasury and the RBA'.

The New Daily

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Consumer watchdog turns up heat on banks over savings rates

The ACCC is turning the spotlight on banks over interest rates – especially those paid to savers as borrowers are increasingly slugged.

The New Daily

Coalition disappointed with the RBA appointment process? Wait until they hear about this!

Shadow treasurer Angus Taylor is ‘disappointed’ to see Labor appointing union-adjacent people to the Reserve Bank board.

Crikey

Coalition, Labor at odds over RBA board appointments

As the Albanese government seeks to enact the recommendations of a review of the Reserve Bank, the coalition has queried two new appointments.

The New Daily

Bank shares slip as ACCC probes savings rates, ASX finishes lower as dust settles on RBA review, Tesla shares slide — as it happened

The Australian share market finishes lower as the dust starts to settle after yesterday's RBA review, with bank shares sliding as the ACCC launches a probe into savings rates. Look back on the day's events with our business reporters on the ABC News markets blog.

ABC News

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Morning Mail: NSW left behind on drug policy, Gorgon carbon capture fail, SpaceX rocket blows up

Queensland’s move to three-strike system for minor drug possession leave NSW isolated; emissions shoot up 50% at huge gas project; Elon Musk says spacecraft test was ‘exciting’

The Guardian - AU

Madonna King: The world has evolved, and that’s why the RBA should too

Jim Chalmers’ in-principle support for the recommendations released in yesterday’s review of the RBA is also welcome.

The New Daily

No bull: it's time to keep the buck of rodeos out of Newcastle

There are no circuses in Australia using wild animals these days, yet we are allowing professional bull riders to perform in this city on the weekend. Why?

Newcastle Herald

Does everyone welcome the Reserve Bank overhaul?

Economists have welcomed many of the proposed changes to the Reserve Bank of Australia, but some have raised concerns.

ABC News

Reserve Bank to keep close eye on jobs and inflation

The Albanese government will enact the recommendations of a review of the Reserve Bank, to ensure it focuses on full employment and inflation.

AAP

A singular focus on interest rates, fresher board, fewer meetings – but what else could change at the RBA?

The Reserve Bank overhaul won’t fix mistakes of the past, but that’s not the point, analysts say

The Guardian - AU

Reserve Bank revolution: Jim Chalmers reshapes the RBA for the 21st century

The scale of the RBA changes recommended by the review is large – there is an entire section devoted to a year-long implementation process.

The New Daily

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ABC News

What does the Reserve Bank of Australia review mean, and how will it affect interest rates and mortgage payments?

A scathing review of the Reserve Bank of Australia is set to deliver a shake-up of the central bank not seen in a generation. Here's what it means for interest rates, your mortgage, and RBA governor Philip Lowe.

The Guardian - AU

Afternoon Update: Lowe responds to RBA shake-up; rare solar eclipse in images; and K-pop star dies at 25

RBA governor welcomes review of central bank as treasurer announces all 51 recommendations will be implemented

The Guardian - AU

Philip Lowe welcomes RBA review but says description of board ‘far from the reality’

Reserve Bank governor says board challenges him and does not ‘sit there meekly’ but calls overall report ‘kind of excellent’

The New Daily

Lowe says he would stay at RBA helm as reforms unfold

The governor of the Reserve Bank agrees the institution needs to evolve and is willing to lead the reform of the central bank if his tenure is extended.

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The New Daily

RBA boss concedes central bank ‘needs to change’

RBA boss Philip Lowe has welcomed the wide-ranging review of the central bank, admitting it "needs to change".

Crikey

The RBA has long appeared neoliberal and out of touch. This shake-up is overdue

Treasurer Jim Chalmers will today announce significant changes to the central bank. But while some are welcome, not all may be improvements.

AAP

Treasurer appoints two new Reserve Bank board members

Former workplace umpire Iain Ross and corporate director Elana Rubin have been appointed to the board of the Reserve Bank of Australia.

The Guardian - AU

The RBA review ignores the global failure of inflation management to prevent financial chaos

The Guardian - AU

RBA shake-up promises board representation for workers, with focus on full employment and fighting inflation

Sweeping changes to Reserve Bank of Australia give equal weighting to employment and inflation, and mandate greater transparency

The New Daily

RBA overhaul to put board members in spotlight

A major overhaul of the Reserve Bank will see a new board for setting interest rates that's more accountable and holds fewer meetings.

The Conversation

Reserve Bank revolution: how Jim Chalmers will recraft the RBA for the 21st century

The review into the Reserve Bank of Australia has just been published by Treasurer Jim Chalmers, and it’s a blockbuster.

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