RBA to cut number of meetings that set interest rates to eight a year, Philip Lowe says

Lowe’s speech may be his last as Reserve Bank governor before treasurer Jim Chalmers’ announcement of whether his term is renewed

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The Reserve Bank will cut the number of meetings that set official interest rates to eight times a year from 11, starting next February, as the central bank begins implementing the recommendations of a review.

The RBA governor, Philip Lowe, announced the changes in Brisbane on Wednesday. He also addressed the bank’s decision to leave its cash rate on hold earlier this month, saying that “[it] remains to be determined whether monetary policy has more work to do”.

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