Reserve Bank's Independence Compromised
Wednesday 15 May 2002
The government needs to speed up the appointment of a permanent Reserve Bank Governor, ACT leader Richard Prebble says.
"While the temporary Governor may believe that 25 basis points is the correct amount to move, everyone knows, had he chosen 50 points, it would not have been a career-enhancing move.
"We need, especially in election year, to have a Reserve Bank that is going to make decisions fearlessly, without having to worry about political consequences.
"We must assume that the more moderate rise is justified, but while the Reserve Bank Governor's position is uncertain, the doubt will remain," Mr Prebble said.