Finance officials backed off plan for Central Bank to have competition role

The wide-ranging, year-long review of the banking sector was led by John Palmer, a principal officer at the Department.

However, there was little appetite for this among Central Bank officials, who would have seen this as something of a backward step. Still, the final review report called on the central bank to “assess how existing domestic regulation impacts competition within domestic financial markets” when completing its annual performance statement.

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