“Australia to Introduce Legislation to Overhaul Central Bank”

“Australia’s government will introduce legislation this week to facilitate the largest overhaul of the central bank in a generation, including setting up a separate governance board and scrapping the treasurer’s power to reverse policy decisions.

The bill is the result of an independent review of the Reserve Bank that made 51 recommendations, some of which require modifications to the RBA’s operating law. It follows criticism in recent years ranging from the bank’s pre-Covid reluctance to cut interest rates to a pledge that they wouldn’t rise before 2024 and a messy yield-target exit — that damaged the institution’s credibility…”

https://finance.yahoo.com/news/australia-introduce-legislation-week-overhaul-113000778.html

See the bold print? The way it’s written sounds like fraud. Maybe the article is just badly written but if it isn’t changing the law doesn’t do anything. People have to go to jail. They need to stay there for a very long time. That’s how you solve the problem.