It’s independent of government, has enormous power over our lives and hasn’t been reformed in 25 years.

But yesterday, the Reserve Bank bowed to a scathing review and even Governor Philip Lowe conceded parts of the RBA had been out of step with modern expectations.

But will a new board of experts improve the way interest rates are set? Can workers have a seat at the table? And what does it mean for the future of Philip Lowe?

Today, columnist for The Saturday Paper Paul Bongiorno, on why the government took such bold action on the RBA, but won’t stop it inflicting more pain.




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Guest: Columnist for The Saturday Paper, Paul Bongiorno.

It’s independent of government, has enormous power over our lives and hasn’t been reformed in 25 years.But yesterday, the Reserve Bank bowed to a scathing review and even Governor Philip Lowe conceded parts of the RBA had been out of step with modern expectations.But will a new board of experts improve the way interest rates are set? Can workers have a seat at the table? And what does it mean for the future of Philip Lowe?Today, columnist for The Saturday Paper Paul Bongiorno, on why the government took such bold action on the RBA, but won’t stop it inflicting more pain. Socials: Stay in touch with us on <a href="http://www.twitter.com/7ampodcast">Twitter</a> and <a href="http://www.instagram.com/7ampodcast">Instagram</a>Guest: Columnist for The Saturday Paper, Paul Bongiorno.

An independent daily news show. We feature the country’s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

An independent daily news show. We feature the country&rsquo;s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

A daily news show from the publisher of The Monthly and The Saturday Paper.

A daily news show from the publisher of The Monthly and The Saturday Paper. Hear from the country’s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

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