Growing number of divisions makes RBA’s job trickier

A pedestrian walks past the Reserve Bank of Australia (RBA) headquarters in the central business district of Sydney, Australia. - David Gray/Bloomberg

SYDNEY: The chief executive officer (CEO) of National Australia Bank Ltd (NAB) says there are increasing divisions within the country’s economy, making the Reserve Bank of Australia’s (RBA) monetary policy even trickier.

“There are two Australias,” Andrew Irvine, the CEO of Australia’s biggest business bank, told the House of Representatives Economics Committee’s annual review into lenders.