Australia has a new Reserve Bank of Australia Governor today – Bullock replaces Lowe

No doubt Lowe will be in demand in the private sector should he wish to head that way. He leaves the RBA with a bit of a cloud over him due to the ill-advised comment in 2020 about ‘no rate hikes until 2024’. And with inflation having gotten away from the bank forcing a series of rapid interest rate rises.

For working Australians though, Lowe leaves with the unemployment rate barely above a 5-decade low. Full employment is the other part of the RBA’s official mandate and the result on this is stellar.

Former Deputy Governor Bullock is now in the hot seat as the big boss. We wish her well.

Deputy RBA governor Michele Bullock and RBA governor Philip Lowe

This article was written by Eamonn Sheridan at Source