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Until that happens, the RBA is legally responsible for monetary...

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MMTBeagle

21 Posts.

09/10/20

14:56

Post #: 47978799
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Originally posted by tigmeister: ↑

Well in a democracy the government is responsible for monetary policy, not the RBA. So Costello fictionally put thye RBA beyond democratic reach, but how legal or permanent is that really? It would only take an act of parliament to bring the RBA back under direct political control. It was only an act of parliament that put it beyond democratic control, while still being owned by the government.

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Until that happens, the RBA is legally responsible for monetary policy. There is no sign of that happening.
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