Official Cash Rate to remain restrictive

The Monetary Policy Committee today agreed to keep the Official Cash Rate at 5.50 percent.

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Managing human resources - a central bank perspective

Donna Hickey, Geof Mortlock

The adage that "people are our greatest asset" has been a recurrent theme in many businesses and organisations through history. This is no less true for a central bank. Indeed, people are, without doubt, a central bank's most important resource. Our business relies heavily on the expertise, experience and sound judgement of our staff. A central bank's effectiveness crucially depends on its credibility, and this in turn largely comes down to the quality of its staff. Therefore managing human resources effectively is a critical element in maintaining an effective and credible central bank. This article summarises the evolution of the Reserve Bank's approach to human resources management, placing this in the context of the changes that have occurred within the Bank's structure and governance arrangements over the last decade or so.