MNI POLICY: RBA To Reveal Board Transparency Plans In H2

The Reserve Bank of Australia’s new monetary policy board will outline how members will deliver public comments and share voting results in the second half of the year, once elections are out of the way and the new government is comfortably installed, MNI understands.

Deputy Governor Andrew Hauser recently told Senate Estimates that the board would discuss plans to increase transparency before this week's meeting. However, while members began discussing potential changes while agreeing to hold the 4.1% cash rate, further deliberation will continue over the coming months. (See MNI RBA WATCH: Bullock Highlights Uncertainty Ahead Of Tariffs)

The delay in agreeing a communications policy change was partly due to the federal election recently called for May 3. The board wants to align with the government and the treasurer before making any significant changes, though this could change after the election.

MNI reported last month that newly appointed external board member Renee Fry-McKibbin is likely to push for the ability to share her views publicly on monetary policy decisions, challenging senior RBA leadership's preference for conformity. (See MNI: New RBA Board To Push For Greater Transparency)