Reserve bank of Australia Governor Glenn Stevens, with a pay level set more than four times that of Ben S. Bernanke at the US Federal Reserve, oversees a bank that’s less transparent than Poland’s in setting policy.
Australians are paying four times as much, is there any good reason, I don't think so!
Stevens, who this week kept the RBA’s benchmark interest rate at a developed-world high of 4.75 percent, makes the call on adjusting borrowing costs without a publicly revealed vote of the board -- an anomaly relative to the standard followed by peers in nations from the U.S. to Japan to Poland.
Why is it that we in Australia don't have an open system at least equal to the rest of the world.
A lack of accountability may undermine confidence in the RBA when Australia’s economy turns, University of Cambridge economist Petra Geraats said.
“Australia would be well-advised to strengthen its monetary-policy making framework to be better equipped to effectively respond when more challenging economic conditions arrive.”
MUSHROOMS MAY DO WELL IN THE DARK
SHOULD AUSTRALIANS BE TREATED THE SAME
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