Submission on Phase 2 of the Reserve Bank Act Review

The IoD’s submission on the review focuses on how the Reserve Bank should be governed. We support a shift away from the Reserve Bank single decision maker model to a governing board.

It is essential that there is a balanced board of highly capable and professional directors with the right mix of knowledge, skills and experience. It is also critical that there is a transparent and robust board appointment (and reappointment) process based on high quality analysis.