Treasurer Sees Board Member Departures As Opportunity To “Refresh”

Two RBA Board members, Mark Barnaba and Wendy Craik, have said that they won't seek reappointment this year. Treasurer Chalmers has responded to Sky News that this development is an “opportunity to refresh the Reserve Bank Board”, according to The Australian. Barnaba had his term extended a year in August 2022. Chalmers is currently in India for the G20 meetings.

• The Treasurer reiterated on Sunday that a decision regarding the Governorship of the RBA will be made around mid-year after the review is received in March. He said that the decision “will be about who is best placed to take the Bank forward into the future, …” (Sky News)
• There has been a lot of talk about potential changes to the superannuation system in Australia. Chalmers responded that it was not unreasonable to put a cap on tax concessions and the union involvement in superannuation wasn’t necessarily a problem. A number of suggestions have been put to the government which they are currently considering. (The Australian)