RBA Faces Questions Over Off-the-Record Briefings With Banks.

The Reserve Bank of Australia (RBA) is facing scrutiny over its practice of holding off-the-record briefings with market participants, as leaks from these discussions have resulted in bans for the institutions involved. The RBA has excluded Royal Bank of Canada and Westpac Banking Corp. from briefings due to breaches of confidentiality. Former RBA Governor Philip Lowe also faced criticism for attending a private lunch with an investment bank. Current Governor Michele Bullock is working to improve the RBA's communications and transparency in response to an independent review. Some experts suggest that the RBA should abandon these briefings and focus on press conferences for greater transparency. The Bank of England has already ceased off-the-record briefings between its rate-setting committee and private financial institutions. [Extracted from the article]