8 Mar 2013

Reserve Bank to set up committee to look at policy

7:03 am on 8 March 2013

The Reserve Bank has set up a committee of senior executives to look at major policy decisions.

Reserve Bank governor Graeme Wheeler says the Governing Committee is made up of himself, two deputy governors and the assistant governor.

Mr Wheeler says the group will debate all major monetary and financial matters, leading to decisions.

He says the committee represents a management change, rather than a governance initiative, and the governor remains solely accountable for those decisions under the Reserve Bank Act.