The panel reviewing the Reserve Bank of Australia (RBA) filed its report with Australia’s Treasurer Jim Chalmers Friday. Chalmers intends to publish the report sometime before the May 2023 budget.

The review – the first external examination of the RBA in its 40-year history – is set to make a raft of recommendations, which could include shifting interest-rate decision making power from the reserve's board to a committee of economic specialists. The review is unlikely to recommend changes to the RBA’s 2-3% inflation target.

The review’s panel is led by Carolyn Wilkins, who sits on the Bank of England’s financial policy committee, Renee Fry-McKibbin, the interim director of the Crawford School at the Australian National University, and the secretary for public sector reform Gordon de Brouwer.