Treasurer under pressure to keep Reserve Bank veto power as "important safety valve"

Treasurer Jim Chalmers is under growing pressure to retain a never-used power to overrule policy decisions made by the independent Reserve Bank. The removal of the Treasurer's "veto" - that could even override interest rate decisions - is a key recommendation in the overhaul of the RBA which is yet to be legislated. But opponents of the veto removal say it's an "important safety valve that bolsters the RBA's independence. Reporter: Peter Ryan, Senior Business Correspondent Featured: Richard Denniss, Australia Institute Keywords: