More on the failed changes at the Reserve Bank of Australia

Headlines on this are here from earlier:

• The changes proposed for the Board of the RBA have failed

Adding a little more detail, this via Reuters reporting:

• The reforms, which were recommended by an independent review
  last year, included setting up a separate governance board to
  complement the current monetary policy board.
• The nine-member rate-setting board would still have six
  outside members, which the opposition said could be used by the
  ruling Labor Party to include appointees friendly towards the
  current government.
• Australian Treasurer Chalmers also offered to amend a proposal to remove the
  government’s veto power over the RBA’s rate decisions that was
  opposed by the opposition and the Greens party.

Reserve Bank of Australia Governor Bullock

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