Inside story of the 2023 RBA review

Inside story of the 2023 RBA review

Author: CPA Australia March 27, 2023 Duration: 34:25

Did you know the Reserve Bank of Australia (RBA) was last reviewed in 1981? That was the Campbell inquiry reporting to the then Fraser Government. 

Much has changed since then. 

Little wonder there's great interest in this current review to be delivered to the Federal Government imminently, and which was triggered by the reporting of senior Sydney Morning Herald and The Age correspondent Shane Wright. 

The respected correspondent joins Jennifer Duke, CPA Australia's Walkley Award-winning former economics correspondent for the Sydney Morning Herald and The Age. 

They discuss the potential impact of this review. In particularly, the origins of the RBA and the broader implications for the Central Bank of this review. 

And with the RBA firmly in the spotlight for its aggressive cash rate rises since May 2022, there will be much focus on this review when it's delivered to the Treasurer Jim Chalmers. 

"The reserve bank has this fantastic graph," Wright says in this episode, "showing its forecast for wages growth from about 2012 marked against reality. And never the twain shall meet. 

"This is the Mary Celeste of forecasting." 

Listen now. 

Host: Jennifer Duke, External Affairs Lead at CPA Australia

Guest: Shane Wright, Senior Economics correspondent with the Sydney Morning Herald and The Age

You can read Shane's reporting on the origins of the Reserve Bank and the case for a review.

CPA Australia publishes three podcasts, providing commentary and thought leadership across business, finance and accounting: 

Search for them in your podcast platform. 

You can email the podcast team at podcasts@cpaaustralia.com.au

Audio of RBA Governor Philip Lowe: Source: Reserve Bank of Australia 2021


Tune in to With Interest for a clear-eyed look at the forces shaping the world of business and finance. Presented by CPA Australia, this weekly discussion moves beyond the headlines to explore the practical implications of change for accounting professionals, business leaders, and anyone with a stake in the economic landscape. You’ll hear from practitioners and experts who break down complex topics in auditing, taxation, and corporate strategy into actionable insights. The conversations in this podcast are grounded in real-world application, whether the subject is a shift in regulatory frameworks, emerging leadership challenges, or broader economic trends. It’s a resource designed to inform your decisions and deepen your understanding of the professional landscape. For those looking to stay current and think critically about their work, With Interest provides a reliable and engaging audio companion. Each episode serves as a timely update and a catalyst for deeper professional reflection, all delivered with the authority and depth you would expect from CPA Australia.
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