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Australia · Communication Policy · Monetary Policy · RBA
The Reserve Bank of Australia's Monetary Policy Board implemented a new "External Members’ Communications and Public Engagement Policy" in July 2025, establishing clear guidelines for external members' public appearances to enhance transparency and accountability in monetary policy decision-making.
This policy applies specifically to external members of the Monetary Policy Board, excluding the Governor, Deputy Governor, and the Secretary to the Australian Treasury, who operate under separate communication protocols. The RBA policy mandates that external members prioritize engagements aligned with the MPB's mission, adhere to a strict blackout period from the Wednesday before a meeting until two weeks after minutes release, and generally convey the Board's collective position.
While external members retain discretion to share their own views, they must respect Board deliberations and avoid attributing votes or discussing individual members' opinions. The RBA's Communications Department will provide comprehensive support for these engagements, ensuring adherence to the Code of Conduct for Monetary Policy Board Members, which prohibits accepting gifts or benefits.
This framework aims to foster a stronger connection between monetary policy and the Australian public through structured dialogue and information dissemination.
