Although the organisational aspects of the SRA still need to be decided, in order to achieve its objectives, the SRA should be strong, independent and preferably a standalone authority and should collaborate closely with the SSM and the European Commission. Second, the SRA should have adequate funds for resolution financing.
This Review will help us do this as we strive to promote the economic welfare of the Australian people. I would like to particularly welcome the Panel's support for the current monetary policy framework in Australia. Australia was an early adopter of flexible inflation targeting and this approach has served the country well.