My submission for the Review of the RBA covers i) monetary policy frameworks and ii) RBA performance. I discuss the effectiveness of determining monetary policy via a centralized, committee-based framework compared to a market-based framework. I highlight the RBA's narrow interpretation of the Act as equating to 2-3% inflation and the adverse side-effects of this. I propose an alternative involving Australia’s banking system to mitigate the problems associated with the RBA’s current arrangement.
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More info: https://consult.rbareview.gov.au/public-submissions/view/74