RBA board games
Major changes to the central bank will create two separate boards focused on governance and monetary policy, which means Jim Chalmers has some appointments to make. So, who fits the bill?
Reforming the Reserve Bank was a major plot point in Treasurer Jim Chalmers’ narrative about economic improvements under the Albanese government.
But the passage of historic legislation aimed at improving decision-making at the central bank was just the first part of the story. The legislation creates two boards at the RBA — one for governance and one for monetary policy. That means Chalmers has to fill some new positions.
As economist Steven Hamilton neatly summarised on social media, while Chalmers “deserves full credit” for the reforms, he must now bear responsibility for the possible fallout from his choices. “[If] he stacks the board with hacks, he will deserve full scorn,” Hamilton wrote.
It’s a view widely shared across the economic sphere. Concerns about potential partisanship and the need for stability at the RBA have been raised. Opposition finance spokesman Angus Taylor has expressed unease about the changes and would oppose any appointments that appear politically motivated.
