The Reserve Bank of Australia's aggressive rate-hiking schedule will be put under the microscope at a parliamentary hearing.
The head of the central bank, Philip Lowe, will face the House of Representatives economics committee on Friday.
The committee will probe the RBA's recent interest rate decisions, the challenges of tackling high inflation and central bank's approach to returning inflation to between two and three per cent.
The central bank has come under fire for signalling its intentions to keep interest rates low until 2024, with some calling for Dr Lowe's resignation.
Dr Lowe has since pointed out that the 2024 forecast was highly conditional and not set in stone.
Committee chair Daniel Mulino said Australians had been dealing with higher interest rates, which affected not only mortgage holders but also small businesses and investment.
"In this context, continuing scrutiny of our monetary policy settings remains important, particularly in view of the need to learn from past decisions," he said.
The RBA is facing a separate independent review that will scrutinise everything from its core objectives to its communication skills.
The review, introduced by Treasurer Jim Chalmers, has been welcomed by shadow treasurer Angus Taylor, although he warned against distracting the central bank from its core mandate of controlling inflation.
Since May, the RBA has lifted its cash rate target from 0.1 per cent to 2.35 per cent, which has added more than $600 a month to the average mortgage holder's monthly repayments.
© AAP 2022