The government and the opposition support the independence of the RBA and when the government is asked about monetary policy, the typical response is that monetary policy is a matter for the independent Reserve Bank. Third, the RBA is the transactional banker for the Australian Government.
Next month, we will conduct a public hearing to consider how we might further use our HOEPA authority to curb abuses while preserving access to credit. We have invited people representing all sides of the debate to present their views. We have also used, and will continue to use, supervisory guidance to help mitigate problems in the subprime sector.