sydneythe structure of the reserve bank of australias policysetting board should be the main focus of any coming government review of the central bank not changing its 23 inflation target according to peter tulip chief economist at the centre for independent studies mr tulip a former senior research manager at the rba and senior economist at the us federal reserve said tuesday in a statement that the current nineperson structure of the board puts too much pressure on the central banks governor who can make policy errors the board currently consists of five people from business backgrounds an academic economist the rba governor deputy governor and the secretary to the treasury more monetary policy experts need to be appointed to the rba board mr tulip said the rba has been missing its inflation target for more than five years and for that to be avoided in the future there needs to be change he said there is too much reliance on one fallible individual the governor the rba needs better processes to identify and correct any mistakes he might make mr tulip said most rba board members are not monetary policy experts they can ask good questions but they are unable to effectively challenge the governor he added a review of the rba seems likely after the coming may 21 federal election with both major parties pledging to look at the matter mr tulip said the rba has shown itself to be unwilling or unable to hit its 23 inflation target so changing the target itself is not likely to improve outcomes for the central bank