Control of monetary policy rests with

Question

Quizplus · Accepted Answer

The Reserve Bank of Australia (RBA) is responsible for formulating and implementing monetary policy in Australia. The RBA has autonomy in conducting monetary policy, and its decisions are not subject to approval by the government or the parliament. The Federal Treasury, Senate, and Parliament can influence monetary policy through their actions or policies, but they do not have direct control over it. The Prime Minister also does not have direct control over monetary policy, although he or she can appoint the Governor of the RBA, who plays a key role in the decision-making process.

Control of Monetary Policy Rests with