Here's what to expect from the review of the RBA - "biggest shake-up in three decades"

The review of the Reserve Bank of Australia is expected to be delivered to Australia's Treasurer Jim Chalmers on Friday.

Local media report on what is expected to be the recommendations, amongst them:

• Interest rates set by a committee of economic specialists rather than the current board
• fewer meetings to discuss rate settings
• regular press conferences by the bank governor to explain monetary policy settings

Here is the link to the piece for much more.

The RBA really dropped the ball on one of its (only) two jobs. Inflation remains high despite the slower monthly yesterday:

Australian monthly CPI (February) 6.8% (vs. expected 7.1%)

From the Reserve Bank of Australia website:

The Bank highlights the y/y rate, even though the m/m (which is, admittedly, not a great measure at tit subject to all the caveats I outlined re the monthly data ... the q/q would be a hap[py medium) gives a better indication of how the inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rate is changing. Go figure. Maybe another recommendation from the review?