Australia’s Central Bank Is ‘Dysfunctional,’ Ex-Researcher Says

Australia’s central bank does little deliberation, ignores opposing views and its decision-makers “seem hostile to a consideration of evidence or research,” according to Peter Tulip, a former senior member of its economic research department.

“We have a board that does not understand monetary policy or statistical research,” Tulip said in a farewell email to colleagues when he resigned from the Reserve Bank in August, according to a Freedom of Information release Friday. “So although there are lots of great people at the bank, our environment makes the organization dysfunctional.”