Reserve Bank of Australia review – resources [draft]

On this page

• Requests for information
• Expert reports
• RBA employee survey
• Economist survey
• Focus groups

Requests for information

The Review issued 4 information requests to the Reserve Bank of Australia (RBA). These requests covered all aspects of the terms of reference.

• First and second requests for information – September to October 2022
  Visit the RBA website to view the information request responses
• Third request for information – December 2022
• Fourth request for information – Febuary 2023

Expert reports

The Review Panel commissioned 5 academic experts to produce papers on aspects of the review:

• Professor Anil K Kashyap, Monetary policy and financial stability: governance design considerations, University of Chicago, January 2023
• Professor Athanasios Orphanides, Monetary policy tools with near zero policy rates: A review of the Australian experience, MIT, March 2023
• Professor Eric M Leeper, Monetary-fiscal policy interactions for central bankers, University of Virginia, February 2023
• Professor Andrew Levin, Principles & practical recommendations for strengthening the governance and accountability of the Reserve Bank of Australia, Dartmouth College, January 2023
• Professor Prasanna Gai, The governance of monetary policy – process, structure and international experience, University of Auckland, January 2023

RBA employee survey

The Review engaged commercial provider, Big Village, to conduct an extensive survey of current and former RBA employees.

The survey collected quantitative data on the RBA’s workplace culture, values, and job satisfaction levels. It also asked participants to provide information on areas for improvement.

The survey ran from 17 October to 5 November 2022 with responses from:

• 982 current employees
• 107 former employees.

Economist survey

The Review surveyed Australian business economists to assist with research into the perception of the RBA communications strategy, and received 25 responses.

The survey focussed on gaining an understanding of opportunities to improve communication about monetary policy decision making and strategy.

The survey provided insight from financial sector professionals and explored feedback on potential improvements to the communications strategy of the RBA.

Focus groups

In October 2022, the Review commissioned EY to conduct 6 focus groups, with a total of 42 members of the public.

The focus groups gauged the perception of the RBA, including its role and function. It gathered data from members of the public who may not have contributed via the submissions process. It included participants with a range of:

• ages
• genders
• locations
• incomes and wealth
• household structures and
• levels of education and financial literacy.