RBA to meet just eight times a year as part of sweeping overhaul

Charlie Teo found guilty of 'unsatisfactory professional conduct'Reserve Bank governor Philip Lowe has confirmed Australian mortgage holders will only have to worry about eight potential interest rates rises from next year.

"Likewise, the staff will have more time for analysis, with less time spent preparing summaries of recent developments. The board will also be able to hear directly from more staff and have greater opportunity to request work on particular topics. His term as governor expires on September 17, and it has been widely speculated that Treasurer Jim Chalmers will opt to replace Lowe rather than extend his tenure.

The Board meetings will be longer than is currently the case. They will typically start on the Monday afternoon and then continue on the Tuesday morning. The outcome of the meeting will be announced at 2.30 pm on the second day, typically a Tuesday as is the case now.

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