Let me sketch the broad outlines of the Bank’s policies and actions during the past five years, which flow from this overriding consideration. 10. Monetary Policy At the very start of my tenure as Governor, I set out to remedy what was, to my mind, a major flaw in our approach to monetary policy decision-making.
The Review also includes a number of recommendations to strengthen the RBA's management, culture and operations. These include: the appointment of a Chief Operating Officer, enhancing the communications function, encouraging the culture of debate within the Bank, strengthening the role of research, and continuing to invest in leadership and management capabilities. These recommendations make sense and have our support.