The Australian government will introduce legislation this week that would give the central bank's independent expert members more responsibility for setting interest rates with a new specialist monetary policy board. The bill would implement the recommendations of a review of the Reserve Bank of Australia (RBA) released in April that requires legislation enacted by parliament, Treasurer Jim Chalmers said on Sunday.The review outlined a range of reforms including a separate RBA board for day-to-day operations, fewer policy meetings and a simpler dual mandate of price stability and full employment, bringing it more in ... (full story)