At any time, the public should be able to evaluate whether the Reserve Bank of Australia's (RBA) interest rate decisions are consistent with achieving statutory mandates. The RBA's current policy and communication strategy makes this difficult. The mandates, as interpreted by the RBA, fail to provide a clearly identifiable performance benchmark. And the supporting communication strategy falls short of a commitment to explain the economic basis of why and how interest rate decisions achieve mandated objectives. Examples of both concerns are given from various public documents. Basic reforms would improve the accountability and effectiveness of monetary policy.

中文翻译：

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澳大利亚储备银行政策和沟通策略的改革案例

在任何时候，公众都应该能够评估澳大利亚储备银行 (RBA) 的利率决定是否与实现法定授权一致。澳大利亚央行当前的政策和沟通策略使这变得困难。正如澳大利亚央行所解释的那样，这些规定未能提供一个清晰可辨的绩效基准。支持性沟通策略未能承诺解释利率决策为何以及如何实现规定目标的经济基础。各种公共文件中都给出了这两个问题的例子。基本改革将提高货币政策的问责制和有效性。