New Appointments:
Marnie Baker, CEO of Bendigo Bank, and Renee Fry-McKibbin, ANU economics professor, have been appointed to the Reserve Bank's new monetary board for five-year terms starting in March 2025.The RBA will split into two boards:Monetary Board: Controls interest rates.Governance Board: Manages central bank operations.Existing board members were given the choice to join either board.
Additional Governance Board Members:
Four new external members join the Governance Board: Jennifer Westacott, David Thodey, Danny Gilbert, and Swati Dave.Both boards will have nine members and be chaired by RBA governor Michele Bullock with deputy governor Andrew Hauser as deputy chair.Treasury secretary Steven Kennedy and RBA’s COO will hold positions on the Monetary and Governance Boards respectively.
Treasurer’s Statement:
Treasurer Jim Chalmers described the appointments as part of the most significant RBA reforms in over three decades, emphasizing the focus on inflation and cost-of-living challenges alongside reforms.****
Reserve Bank of Australia Governor Bullock
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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