Recent events highlight the necessity of greater economic and financial markets expertise amongst Board members, as well as a reduction in the ability of government to override RBA decisions.

The draft report’s aims of making the system simpler, fairer and consistent are laudable. However, the report itself is inconsistent in parts leading to several flawed conclusions.

The disastrous overreaction to Covid 19 by Australian Governments will leave Australia worse off on health and economic grounds for decades to come

Australia’s construction industry cannot supply the housing and infrastructure necessitated by extraordinarily high levels of migration.

Arguably the most significant lesson is that future Governors should intervene with monetary policy far less than he did

By cutting too far the RBA helped create high inflation. Normalising interest rates is the economically prudent response.

The RBA’s errors stem from a lack of diversity in economic analysis, with its often contradictory aims setting it up to fail.

The rapid decline in residential properties available for rent points to a greater proportion of low income Australians becoming homeless

Governments and economists might finally be realising that excessive stimulus creates and exacerbates recessions

With long term bond yields rising, investors are likely to allocate their capital very differently than they did in the last few years

The prospect of a recession normally accompanies a slump in asset prices, but the current starting point and trigger are somewhat different from historical examples

Higher interest rates, dumb politics and euphoric markets are key risks for asset prices in 2022