Lowe on the Review of the Bank and changes that’ll be implemented:
RBA board to make changes based on independent review
From 2024, the board will meet eight times a year, rather than 11 times
Board meetings to start on Monday, conclude at usual time on Tuesday
Post-meeting statement announcing the decision will be issued by board, rather than governor
RBA governor will hold a media conference after each board meeting to explain decision
Quarterly statement on monetary policy will be released at same time as policy decision
Current board structure to remain as is
RBA board to decide on some review recommendations at a later date