The RBA should not be colluding with an international banking cartel - Senate Estimates 10.11.22

At the previous round of estimates I asked for correspondence between the RBA and the Bank of International Settlements.

Needless to say the RBA refused because it was confidential.

The reason given was that if they revealed the content of their discussions they wouldn’t be included in further discussions.

The RBA clearly thinks that being a part of a secretive banking cartel is more important than being open and transparent with the Australian people.

Let’s not forget this is the same mob who said interest rates wouldn’t rise until 2024 and lent $188 billion to the banks for free.

It’s about time the “independence” of the RBA ended and it was made accountable to the parliament again.

Don’t you?