Reserve Bank of Australia 'old hand' may be reappointed to the monetary policy committee

On December 3, Jinshi Data reported that last week, Australian Treasurer Chalmers restarted the plan to restructure the committee system of the Australian Federal Reserve to set the Intrerest Rate. The potential candidate list for the new monetary policy committee has begun to emerge. Peter Tulip, the chief economist of the Australian think tank Independent Research Center (CIS), recommended former Deputy Chairman of the Australian Federal Reserve Guy Debelle and former Chief Economist of the Australian Federal Reserve Malcolm Edey. Scholars Warwick McKibbin and economics professor Bruce Preston are also on the list. Given that the culture of the Australian Reserve has been criticized, rehiring former employees may raise eyebrows. Nevertheless, everyone on the list has the ability to challenge the Central Bank’s recommendations and understand the importance of independence.