Lowe sees ‘strong case’ for RBA board members to stay

Philip Lowe says there is a “strong case” for existing Reserve Bank of Australia board members to remain as interest rate setters to steer inflation back to target, jarring with Treasurer Jim Chalmers’ push for new appointees.

The former governor’s public intervention came as people familiar with the situation privately said there were at least two current board members who were willing to transfer from monetary policymaking to a new RBA governance board under the planned dual-board shake-up.