<p>The review of the Reserve Bank of Australia is expected to be delivered to Australia's Treasurer Jim Chalmers on Friday.</p><p>Local media report on what is expected to be the recommendations, amongst them:</p><ul><li>Interest rates set by a committee of economic specialists rather than the current board</li><li>fewer meetings to discuss rate settings</li><li>regular press conferences by the bank governor to explain monetary policy settings</li></ul><p><a href="https://ift.tt/yPDSEAX" target="_blank" rel="nofollow">Here is the link to the piece</a> for much more. </p><p>The RBA really dropped the ball on one of its (only) two jobs. Inflation remains high despite the slower monthly yesterday:</p><p><a href="https://ift.tt/mEx5F1c" target="_blank" rel="follow" data-article-link="true">Australian monthly CPI (February) 6.8% (vs. expected 7.1%)</a></p><p>From the Reserve Bank of Australia website:</p><p>The Bank highlights the y/y rate, even though the m/m (which is, admittedly, not a great measure at tit subject to all the caveats I outlined re the monthly data ... the q/q would be a hap[py medium) gives a better indication of how the inflation rate is changing. Go figure. Maybe another recommendation from the review?</p> This article was written by Eamonn Sheridan at www.forexlive.com.

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