Labor has pledged to conduct a review of the Reserve Bank of Australia if elected, according to Shadow Assistant Treasurer Andrew Leigh.
Dr Leigh, who sits on the House of Representatives’ economics committee, has been calling for an external review into the nation’s central bank.
“Periodically organisations should be reviewed to ensure that they’re doing as good a job as they can,” Dr Leigh told Sky News Australia.
“In the case of the Reserve Bank of Australia: it’s less transparent than some of its peers, doesn’t hold press conferences when it announces its decision, doesn’t produce the minutes of the meeting showing the voting decisions that members make.
“And has a board which is largely made up of talented generalists, rather than monetary policy experts.
“I think given that what we’ve seen in the inflation performance over recent years, it is appropriate to have a look at that.”