Australia’s government has secured support from Greens party to pass RBA reform law

I posted on the machinations earlier:

• Plan to overhaul the RBA including splitting the board in two could be back on the agenda

The Australian Labor party government has secured the support of minority party Greens to help pass the legislation.

The Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023 was one of around 30 bills passed on the final parliamentary sitting day of the year. The government agreed to Greens demands for A$500 million in social housing upgrades and the elimination of coal, oil and gas funding in the Future Made in Australia Bill.

Check out that link above for what the reforms mean for the RBA.

This article was written by Eamonn Sheridan at www.forexlive.com.