the million dollar man , page-4

Based on their salaries, the RBA board members are certainly not monkeys, they get rewarded 5 times better than their USA counterparts. Of course, one can argue that Glenn Stevens is five times more clever and productive than Ben Bernanke.

Board of Governors (Federal Reserve)
quote:

What are the salaries of the Board members?
Congress sets the salaries of the Board members. For 2010, the Chairman's annual salary is $199,700. The annual salary of the other Board members (including the Vice Chairman) is $179,700.

http://federalreserve.gov/generalinfo/faq/faqbog.htm

I don't want to defend the RBA - there isn't any financial/economic reason to do so. Anybody who has followed the history of central banks in the context of the (repeated) near-collapse of the financial system & economy - can not defend the existence and function of a structure with the sole purpose of centrally (planning?) manipulating the price of money.

The RBA has never fulfilled its charter (or mandate):
a) full employment,
b) price/currency stability,
c) stable financial system.