Reform or replace the Reserve Bank of Australia
Reform or replace the Reserve Bank of Australia
The issue
In recent years, as a homeowner and mortgage holder, I have witnessed firsthand the dramatic impact that increasing mortgage rates have had on everyday Australians like myself. High mortgage payments are being used as a tool to manage inflation, yet these measures fail to address the fundamental cause: an artificial inflation rate influenced by a myriad of global factors outside the control of everyday Australians.
The Reserve Bank of Australia's (RBA) current approach has placed unnecessary financial strain on households, exacerbating economic inequality and hindering our capacity to invest in our futures. Many Australians are struggling to keep up with rising payment obligations, which have been compounded by international events and trade dynamics that have little to do with domestic consumer behavior.
In 2026, with mortgage holders like me bearing the brunt of a system not fit for purpose, it is time to demand a change. The RBA must be reformed or replaced to reflect the realities of today's interconnected global economy.
We propose the establishment of a review commission comprised of economic experts, consumer advocates, and representatives from key industries. This commission would explore alternative monetary policies that relieve the financial burden on Australian families without compromising economic stability. Possibilities such as targeted fiscal policies aimed directly at specific industries affected by global supply chain disruptions could be considered.
Moreover, the RBA should adopt a more inclusive decision-making process with greater transparency and accountability. Regular public consultations could be held to ensure that the voices of all stakeholders, including those most affected by rate decisions, are genuinely heard and acted upon.
Finally, we urge the government to support a comprehensive economic strategy that leverages innovation and investment in sustainable infrastructure. This would promote domestic resilience against international economic pressures and provide a more balanced approach to managing inflation.
The time has come for a monetary policy that works for everyone. A system designed for today’s economic challenges, not yesterday’s. By preventing the undue financial burden on mortgage holders and focusing on more equitable economic strategies, we can ensure a stable and prosperous future for all Australians.
Please join me in demanding a responsible and responsive Reserve Bank. Sign the petition to call for reform or replacement of the RBA to better serve the Australian people.
20
The issue
In recent years, as a homeowner and mortgage holder, I have witnessed firsthand the dramatic impact that increasing mortgage rates have had on everyday Australians like myself. High mortgage payments are being used as a tool to manage inflation, yet these measures fail to address the fundamental cause: an artificial inflation rate influenced by a myriad of global factors outside the control of everyday Australians.
The Reserve Bank of Australia's (RBA) current approach has placed unnecessary financial strain on households, exacerbating economic inequality and hindering our capacity to invest in our futures. Many Australians are struggling to keep up with rising payment obligations, which have been compounded by international events and trade dynamics that have little to do with domestic consumer behavior.
In 2026, with mortgage holders like me bearing the brunt of a system not fit for purpose, it is time to demand a change. The RBA must be reformed or replaced to reflect the realities of today's interconnected global economy.
We propose the establishment of a review commission comprised of economic experts, consumer advocates, and representatives from key industries. This commission would explore alternative monetary policies that relieve the financial burden on Australian families without compromising economic stability. Possibilities such as targeted fiscal policies aimed directly at specific industries affected by global supply chain disruptions could be considered.
Moreover, the RBA should adopt a more inclusive decision-making process with greater transparency and accountability. Regular public consultations could be held to ensure that the voices of all stakeholders, including those most affected by rate decisions, are genuinely heard and acted upon.
Finally, we urge the government to support a comprehensive economic strategy that leverages innovation and investment in sustainable infrastructure. This would promote domestic resilience against international economic pressures and provide a more balanced approach to managing inflation.
The time has come for a monetary policy that works for everyone. A system designed for today’s economic challenges, not yesterday’s. By preventing the undue financial burden on mortgage holders and focusing on more equitable economic strategies, we can ensure a stable and prosperous future for all Australians.
Please join me in demanding a responsible and responsive Reserve Bank. Sign the petition to call for reform or replacement of the RBA to better serve the Australian people.
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Petition created on 3 November 2026