Elements of Treasurer Chalmers’ RBA overhaul informed by an independent review are facing pushback.
Former treasurer Peter Costello, and former RBA governors Ian MacFarlane and Bernie Fraser canvassed concerns at a Senate hearing into RBA changes Thursday.
A number of economists echoed the same concerns.
The removal of the RBA governor’s power to overrule bank decisions, as well as the instalment of a monetary policy committee within the RBA, has been brought into question.
Experts fear Dr Chalmers’ RBA overhaul could lead to too much government influence in the independent institution.
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