Company Directory - Reserve Bank of Australia
Company Details - Reserve Bank of Australia
Reserve Bank of Australia
WebsiteSydney, Australia
Australia's central bank, responsible for monetary policy, financial system stability, and offering banking services to the government.
CCI Score
CCI Score: Reserve Bank of Australia
-3.69
0.01%
Latest Event
RBA Board Overhaul via Progressive Deal
Following a political deal between Treasurer Jim Chalmers, the Greens, and crossbench senators, the Reserve Bank of Australia will undergo a major overhaul. The restructuring splits the board into separate committees for interest rate setting and governance, enabling the appointment of new, progressive-aligned members before the next election.
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BYSTANDER
Reserve Bank of Australia is currently rated as a Bystander.
Latest Events
- NOV282024
Following a political deal between Treasurer Jim Chalmers, the Greens, and crossbench senators, the Reserve Bank of Australia will undergo a major overhaul. The restructuring splits the board into separate committees for interest rate setting and governance, enabling the appointment of new, progressive-aligned members before the next election.
+60
Executive Political Engagement
April 15
The overhaul of the RBA board as a result of a progressive political agreement reflects active executive political engagement. By enabling Treasurer Jim Chalmers to appoint new members aligned with Labor and progressive values, the reform aims to increase accountability and align monetary policy with broader social justice goals. This move, while criticized by conservative elements as political stacking, is viewed positively from an anti-authoritarian perspective for promoting progressive oversight of key economic policy.
RBA to undergo biggest overhaul in decades after Labor-Greens deal
- NOV282024
The Reserve Bank of Australia is set to restructure its board by creating separate committees for interest rate setting and governance after Treasurer Jim Chalmers brokered a deal with the Greens and Senate crossbench. This reform, part of the biggest overhaul in decades, enables the Treasurer to appoint new figures to the influential interest rate-setting board ahead of the next election, a move raising concerns of potential political stacking amid calls for improved accountability.
+40
Executive Political Engagement
April 15
The overhaul grants the Treasurer significant influence in appointing board members, which though raising concerns about potential political stacking, is seen as a move toward separating governance from interest rate decisions. This restructuring, influenced by a deal with progressive parties (Labor and the Greens), is evaluated positively from an anti-fascist perspective as it aims to align the central bank with best practices, enhance transparency, and curb concentrated power that could otherwise facilitate authoritarian tendencies.
RBA to undergo biggest overhaul in decades after Labor-Greens deal
- OCT172023
RBA staff are considering industrial action following failed wage negotiations amid rising living costs. The Finance Sector Union reported that employees, feeling the pinch of higher interest rates and the cost of living crisis, are frustrated by the minimal pay increase offered.
-50
Labor Relations and Human Rights Practices
April 15
The failure to secure a meaningful pay increase has escalated worker unrest, indicating a shortfall in the company's commitment to fair labor practices and worker rights. This industrial action reflects broader systemic issues in addressing employee welfare amid rising economic pressures.
- AUG242023
Reserve Bank of Australia staff voted against a proposed 10.5% pay rise, with 57% of employees rejecting the three‐year enterprise bargaining agreement. Unions slammed the offer as inadequate, and RBA leadership, including Michele Bullock, championed wage restraint, creating political and labor controversies.
-40
Labor Relations and Human Rights Practices
April 15
The RBA's proposed pay increase was widely rejected, with the majority of staff and unions regarding the offer as inadequate. This failure to meet fair labor standards demonstrates a lapse in upholding workers' rights and ethical labor practices.
-30
Executive Political Engagement
April 15
The stance taken by RBA leadership in advocating wage restraint amidst significant staff dissent reflects a politically charged decision that undermines worker welfare and supports policies which favor capital over labor rights.
- AUG242023
Staff at the Reserve Bank of Australia rejected a 10.5% payrise offer over three years, with 57% of staff voting against it. Critics, including the Finance Sector Union, argue that the offer fails to address the rising cost of living, reflecting a disregard for fair labor practices.
-50
Labor Relations and Human Rights Practices
April 15
The RBA's proposed pay increase was overwhelmingly rejected by staff and denounced by the Finance Sector Union for not adequately addressing cost-of-living pressures. This failure to invest in fair and sufficient wage adjustments demonstrates a disregard for worker rights and fair labor practices, which is concerning from an ethical standpoint.
Reserve Bank staff reject 10.5 per cent payrise offer, say it doesn't address cost of living
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