The Labor Party calls for a review of the RBA’s fiscal and monetary policy

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Australia’s opposition Labor Party has requested a review of the Reserve Bank of Australia (RBA) monetary policy and the governing government’s fiscal policyas they are under criticism due to economic weakness ahead of the country’s first recession last year, Bloomberg reports.

Most of the blame for years of low wages, insecure work and stagnant business investment belongs to the Morrison government and its economic mismanagement.“Shadow Treasurer Jim Chalmers said Wednesday.

He added: “But that does not mean that we should not review the objectives and levers of the RBA and the interaction of fiscal and monetary policy “.

“It is a crucial institution, but it is not beyond criticism or reproach,” argued Chalmers.

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