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Central Bank Review Set to Split MPC From Broader Bank Ops

RBA
  • The Australian government are confirmed to release the RBA review documentation as well as government response on Thursday - effectively looking to create a second board among the RBA to split out the financial stability and monetary policy functions of the bank.
  • RBA headlines not unexpected - the prospect of a split board (MPC, FPC) has been raised in recent weeks but will require a small tweak to the bank's operating laws. Most importantly, the existing inflation-target regime is to be retained.
  • The headlines are broadly inline with an MNI piece posted on Monday: https://marketnews.com/mni-separate-monetary-commi...
  • Expect more headlines on this - both the RBA and the Treasury are to hold separate press conferences in the coming days on these topics. RBA governor Lowe is to speak at midday Australia (0300BST).
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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