A ‘New Era’ for the Reserve Bank?

I have an op-ed in today’s Age on the proposed Reserve Bank Amendment (Enhanced Independence) Bill, which is a brief summary of a more detailed article that will be forthcoming in Policy.  The op-ed concludes:

While formally enhancing the independence of the RBA, the new arrangements leave it operating under an outdated and internationally anomalous governance structure that is incompatible with modern demands for central bank transparency and accountability.

UPDATE: Full article can be found here.