Scrutiny on RBA increases with issues paper released

Scrutiny is increasing on the Reserve Bank of Australia as a paper is released today discussing reforms for the central bank in an independent review. An idea to reveal the voting history of individual board members could bring the bank in line with other banks around the world, such as in the US. The issues paper canvasses a wide variety of issues and raises questions about whether the Reserve Bank’s inflation target is appropriate, how its policy could deal with supply side shocks and whether it has been communicating effectively to Australians.