RBA to cut number of meetings that set interest rates to eight a year, Philip Lowe says

Lowe's speech may be his last as Reserve Bank governor before treasurer Jim Chalmers announces whether his term will be renewed

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The Reserve Bank will cut the number of meetings that set official interest rates from 11 to eight times a year, starting in February, as the central bank begins implementing the recommendations of a review.

The RBA governor, Philip Lowe, announced the changes in Brisbane on Wednesday. He also addressed the bank's decision to leave its cash rate on hold earlier this month, stating that it remains to be determined whether monetary policy has more work to do".

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