The Australian government initiated an independent Review of the Reserve Bank of Australia (RBA), on July 20, 2022. The Review panel handed its report to the government within a short period of time – on March 31, 2023.
The review along with the government’s response by the treasurer was made public on April 20, 2023. The response stipulated the in-principle agreement of the government with the review’s recommendations. The government further decided to work with the RBA, parliament, and key stakeholders to implement the recommendations.