Why the RBA didn't meet this week

March 5 was the first Tuesday of the month, so why weren't we glued to screens awaiting cash rate news from the Reserve Bank?

The RBA Board will now meet just eight times each year instead of the previous 11 times. That means the board will next meet on March 18-19.

Meetings will be held over two days, starting on Monday before the rate decision is handed down on Tuesday at the usual 2:30pm.

Governor Michele Bullock also committed to holding media conferences an hour after the decision is announced, starting at 3:30pm.

The changes, which were announced last year as part of wider reform measures, are designed to give the Reserve Bank Board more time between meetings to take on relevant data and advice, and to increase the banks' engagement with the wider public.

The first meeting under the new structure was held on February 5 and 6.

2024 Reserve Bank Board meetings
February 5-6
March 18-19
May 6-7
June 17-18
August 5-6
September 23-24
November 4-5
December 9-10

Get stories like this in our newsletters.