GovernmentReserve Bank credibility in question over ‘blackballing’ of expertsAllowing macroeconomic and monetary experts to serve on the Monetary Policy Committee is welcome. It said it had never banned experts in monetary policy from serving as external members of the Monetary Policy Committee. The Monetary Policy Committee, which sets the Official Cash Rate, is where one should expect a lot of expertise in monetary policy and macroeconomics. READ MORE:* Reserve Bank chair’s ‘totally inappropriate’ work with National Party* Finance Minister removes house prices from Reserve Bank remit* Reserve Bank’s backyard war of independenceFor years, everyone understood that the Reserve Bank had, since 2018, banned academics with ongoing research interests in macro and monetary economics from serving on the committee. At least the bank will not be blackballing experts in future appointments to the Monetary Policy Committee.
