Thursday, December 7, 2023

Historic appointment as axe falls on RBA Governor

Prime Minister, Anthony Albanese has announced the appointment of Michele Bullock as Australia’s next Reserve Bank governor – the first female to take on the role.

Ms Bullock is the current RBA deputy governor, a role she has held for nearly 40 years.

She will take on the new role on September 18th, for a seven-year term, replacing current Governor, Philip Lowe.

“The Treasurer has made a first-rate appointment. I congratulate Michele on being appointed Governor. The Reserve Bank is in very good hands as it deals with the current inflation challenge and implementing the recommendations of the Review of the RBA. I wish Michele all the best,” said Mr Lowe.

Departing RBA Governor, Philip Lowe.

The role of Reserve Bank Governor comes with several responsibilities, including Chair of the Reserve Bank Board, the Payments System Board and the Council of Financial Regulators. As Governor, Ms Bullock will also be responsible for the management of the Bank under the Reserve Bank Act 1959.

“I am deeply honoured to have been appointed to this important position. It is a challenging time to be coming into this role, but I will be supported by a strong executive team and boards. I am committed to ensuring that the Reserve Bank delivers on its policy and operational objectives for the benefit of the Australian people,” said Ms Lowe.

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