Shadow Treasurer Angus Taylor has accused Treasurer Jim Chalmers of attempting to politicise the Reserve Bank of Australia (RBA).

The accusation centres around a bill currently before Parliament, aimed at restructuring the RBA in accordance with an independent review's recommendations. 

The bill proposes the creation of two distinct boards, one for interest rate decisions and another for corporate governance. Critics argue this move could allow undue government influence over the board's composition.

Taylor's criticisms raise concerns over the potential for these changes to undermine the RBA's independence, with particular contention surrounding the selection process for board members. 

Despite Chalmers' assurance of seeking bipartisan support and maintaining the RBA's apolitical stance, Taylor and the Coalition are pushing for amendments to ensure continuity for current board members, particularly onto the monetary policy board.

This unfolding debate raises significant questions about the balance between political oversight and the operational independence of key financial institutions. 

With the Treasury already advertising positions for the new monetary policy board, the implications of these proposed changes extend beyond immediate political skirmishes, touching on broader themes of governance, accountability, and the safeguarding of Australia's economic stability in uncertain times.

As the Senate inquiry into the bill approaches its conclusion, the potential of a soft landing for the legislation appears increasingly jeopardised by mounting opposition and calls for compromise.