Our Central Bank is Not Independent

In Australia, we often hear that our central bank, the Reserve Bank of Australia, is independent of the Federal Government, but in truth central banks the world over have very limited independence.
A mark of our current neoliberal period is the depoliticisation of decision making from both sides of politics. That is, the distancing of politicians from unpopular decisions by deferring responsibility to unelected technocrats. Despite the prevailing myth that the government and its central bank are entirely distinct entities, we can see that this independence is merely a facade designed to obfuscate who is really making the decisions.
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Sources:
Our Role - The Reserve Bank of Australia - www.rba.gov.au...
Central Bank Independence: What Does It Mean? - www.rba.gov.au...
Reserve Bank Board: Members of the Reserve Bank Board - www.rba.gov.au...
A Brief History - The Reserve Bank of Australia - www.rba.gov.au...
Accountability - The Reserve Bank of Australia - www.rba.gov.au...
Statement on the Conduct of Monetary Policy: 6th December 2007 - www.rba.gov.au...
Collected Economic Papers: Volume 2 - Joan Robinson
Australian Reserve Bank Act 1959
www.legislatio...
Treasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 2)
• Treasury, Reserve Bank...
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