Australian RBA Reforms Stalled by Greens' Demand for Rate Cut

The Greens party's ultimatum threatens Treasurer Jim Chalmers' efforts to overhaul the Reserve Bank of Australia.

The Greens party has refused to support the RBA reform legislation unless the government mandates an interest rate cut.
Treasurer Jim Chalmers aimed to pass the reforms with opposition support, but the Liberal-National coalition has withdrawn from negotiations.
Finance Minister Katy Gallagher criticized the Greens' demands as economically irresponsible and stated the government will not concede.
The proposed reforms include splitting the RBA board into separate bodies for monetary policy and governance oversight.
Public discontent over cost-of-living pressures, including high rents and mortgage rates, is influencing the political standoff.