Review of the Reserve Bank of Australia annual report 1996-97

Terms of reference

The Standing Committee on Financial Institutions and Public Administration is empowered to inquire into and report on any matters referred to it by either the House or a Minister including any pre-legislation proposal, bill, motion, petition, vote or expenditure, other financial matter, report or paper.

The Standing Committee on Financial Institutions and Public Administration is empowered to inquire into and report on any matters referred to it by either the House or a Minister including any pre-legislation proposal, bill, motion, petition, vote or expenditure, other financial matter, report or paper.

Annual reports of government departments and authorities tabled in the House shall stand referred to the relevant committee for any inquiry the committee may wish to make. Reports shall stand referred to committees in accordance with a schedule tabled by the Speaker to record the areas of responsibility of each committee.

The Reserve Bank of Australia annual report 1996-97 was tabled in the House of Representatives on 1 September 1997. The Committee has decided to review that annual report.

In addition, in August 1996 the Treasurer and the Governor of the Reserve Bank of Australia (RBA) agreed that the Governor appear before the Committee twice each year to report on the conduct of monetary policy. This was described by the Treasurer as a means of enhancing the RBA's transparency and accountability. At each of those public hearings the RBA will table its Semi-annual statement on monetary policy.

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