Two new members will be appointed the Reserve Bank’s new-look monetary board, prompting the ire of the Coalition, who had demanded it be kept the same.
The RBA’s board is being split in two, with a monetary board that will control interest rates, and a governance board to manage the central bank’s affairs.
For months Treasurer Jim Chalmers has consulted on who would sit on those boards, including with Shadow Treasurer Angus Taylor, in an attempt to seek bipartisan agreement.
Mr Taylor has demanded publicly and privately that when the reformed RBA boards are established, the existing board members all remain on the monetary board — or else it would be perceived as an attempt by the government to influence the Reserve Bank’s decisions on rates.
The ABC understands however two members of the old board will move to the new governance board, which is their own preference as well as that of the RBA governor.
Mr Chalmers yesterday said he had spoken with Mr Taylor as recently as Friday, and that the shadow treasurer “knows” well the quiality and calibre of people he intends to appoint.
The new boards will begin from March.
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