Overhauling a central bank ahead of the next crisis

More scrutiny: A pedestrian walks past the RBA headquarters in Sydney. An outside panel appointed to review pretty much every aspect of the central bank’s structure, culture and operations is getting down to work. — Bloomberg

IF ever there was a time for the best and brightest to make policy, the epic struggle underway against inflation might be a good one.

Yet Australia’s central bank is shackled to an anachronistic personnel selection that has left it hostage to an era when little scrutiny was expected – or demanded.